Business Standard

Govt announces Rs 50 bn fund to jumpstart growth in 12 key services sectors

Export competitiveness and job creation in IT, logistics, hospital and other sub-sectors targeted

Suresh Prabhu, a minister in the Atal Bihari Vajpayee government, is still regarded as one of the best power ministers by industry.
Premium

Suresh Prabhu, a minister in the Atal Bihari Vajpayee government, is still regarded as one of the best power ministers by industry.

Subhayan Chakraborty New Delhi
The government on Wednesday announced a dedicated fund to the tune of Rs 50 billion to support sustained growth in 12 key services sectors apart from initiating reforms to make them more competitive and export-oriented.

The decision to identify 12 specific sub-sectors such as Information Technology and IT-enabled Services, Tourism and Hospitality Services, Medical Value Travel, Transport and Logistics Services, among others, as 'Champion Services' was taken by the Cabinet on Wednesday. 

Contributing heavily to the national GDP, exports and job creation, reforms in the services sector had been ordered by the Prime Ministers office. Sectoral action plans will be

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2018 | 11:56 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com