Ficci makes reforms prescription for government

NEW DELHI: Ficci is set to submit its economic reforms agenda to PM Manmohan Singh and FM P Chidambaram within 48 hours with the promise that its implementation can deliver double-digit economic growth this fiscal. ���We have highlighted those areas for executive and legislative intervention that can be easily delivered by the government over the next 100 days.We have also attached studies ��� where appropriate ��� to strengthen the reform prescriptions, which if implemented can easily unleash GDP to levels of 10% and above this fiscal year,��� secretary-general, Ficci, Amit Mitra told TOI.
While Ficci���s note was originally intended to be a 10-point agenda, it is now more detailed and has been finalized after day-long consultations with its national committee members. It is learnt that industry has expressed deep concern over the country���s fiscal health. This has reflected in business confidence plummeting in surveys conducted by Ficci in three successive quarters.
���We need to reverse the confidence levels through a flurry of reforms centred around accelerating investment levels in the economy. Along with this, reducing transaction costs and addressing governance issues and labour reforms should be a priority���, said Ficci president, Rajeev Chandrashekar.
Ficci believes that measures should be taken to deepen domestic investment in both brown and greenfield projects, while attracting greater FDI and FII interest.