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FICCI suggests unified approach to tackle crisis

Raising concerns over the sliding rupee, dip in GDP growth and the current economic downturn, industry chamber FICCI has called for a unified approach for tackling the crisis.

business Updated: Jun 04, 2012 22:16 IST
HT Correspondent

Raising concerns over the sliding rupee, dip in GDP growth and the current economic downturn, industry chamber FICCI has called for a unified approach for tackling the crisis.

“All political parties need to stand united in this crisis situation and strengthen the hands of policymakers to take bold decisions and act decisively,” said RV Kanoria, FICCI president, while releasing a 12-point agenda for stimulating growth.

FICCI has also suggested moratorium on additional expenses on doles; expediting implementation of goods and services tax (GST); ease monetary policy by bringing down interest rate by 200 basis points; stop the passage of land acquisition bill in its current form; fiscal stimulus for investments through accelerated depreciation; extend the price decontrol mechanism to diesel; give a push to FDI policy reforms, address the issue of repatriation of black money etc.