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Govt will step up fiscal incentives to create jobs, boost industry: Prabhu

He also said that he would ensure that entrepreneurship would blossom in India

Press Trust of India  |  New Delhi 

Suresh Prabhu.
Suresh Prabhu.

Commerce and Minister on Thursday said he is working closely with the ministry and other departments to firm up policy initiatives along with fiscal incentives to give a fillip to industrial and

Prabhu said the country's is doing good and it has a huge potential in coming years.

"Therefore, we are putting in place all the policy frameworks. We are studying sector by sector and we are finding out wherever there is a scope for improvement," he told reporters here on the sidelines of the World Economic Forum's (WEF) Economic Summit.

"We are taking a lot of policy measures. I am personally working with the Ministry of and the Niti Aayog and all other institutions to provide necessary policy as well as fiscal support to ensure the can actually produce far more than what they are doing today which will create jobs," he added.

The minister further said output numbers will all add to the GDP numbers.

Speaking at a session, he said the is taking lots of steps to improve ease of doing business in the country, "but a lot more needs to be done".

Prabhu observed that should be the easiest place to do business.

"My job is to ensure that entrepreneurship to blossom in India," he said, adding that the ministry is also working on an industrial policy.

The policy, he added, assumes significance as the future of manufacturing would not be same as it is today. "So, we are working on some of the emerging industries," Prabhu said, suggesting that excess capacity utilisation can be increased by enhancing domestic consumption and exports.

First Published: Thu, October 05 2017. 15:46 IST