Growth pangs: PM to meet biz leaders today

Prime Minister Manmohan Singh will meet business leaders on Monday to discuss measures to tone up the economy, which until recently was an engine for global growth.

Prime Minister Manmohan Singh will meet business leaders on Monday to discuss measures to tone up the economy, which until recently was an engine for global growth.

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The discussions is likely to centre on measures to steer India out of a web of economic mess — from a sharp slowdown in growth to a free-falling rupee, industrial deceleration to reining in the current account deficit (CAD), and from ways to plug skill shortage to accelerating the implementation of key infrastructure projects.

The meeting, which will take place on the eve of Reserve Bank of India's monetary policy, will also likely discuss the industry's concern over the costlier borrowing rates that have limited firms' capacity expansion plans.