Apex industry body ASSOCHAM has expressed serious concern over the industrial production in October 2014.
The first quarter of the current fiscal has marked certain improvement in the index of industrial production, however, by the second quarter the improvement has turned into a mere uptick as the overall index of industrial production has recorded a growth of mere 1.1 percent in Q2 as against 4.1 percent in Q1.
"The projected 4.3 percent shrinkage in industrial output in October 2014 indicates that industrial deceleration has come back to challenge the policies of the policy makers," said Mr D.S. Rawat, Secretary General of ASSOCHAM.
"Now, there is an urgent need to see the improved business confidence converted into increased investment leading to healthier production activity," said Mr Rawat.
"A realistic assessment of the Government on what is hurting the indsutry and what is lacking is needed in order to see sustained industrial growth and achieve the objectives of ‘Make in India'," he added.
The first quarter of the current fiscal has marked certain improvement in the index of industrial production, however, by the second quarter the improvement has turned into a mere uptick as the overall index of industrial production has recorded a growth of mere 1.1 percent in Q2 as against 4.1 percent in Q1.
"The projected 4.3 percent shrinkage in industrial output in October 2014 indicates that industrial deceleration has come back to challenge the policies of the policy makers," said Mr D.S. Rawat, Secretary General of ASSOCHAM.
"Now, there is an urgent need to see the improved business confidence converted into increased investment leading to healthier production activity," said Mr Rawat.
"A realistic assessment of the Government on what is hurting the indsutry and what is lacking is needed in order to see sustained industrial growth and achieve the objectives of ‘Make in India'," he added.
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