Assocham urges parties to support Center's decisions

Industry body Assocham today urged all the major political parties, including Trinamool Congress, to support the Center's decisions like FDI in multi-brand retail as the measures would help in boosting India's economy.

"Whether it is FDI in retail or even a revision of diesel prices, ultimately the measures are meant for the benefit of the Indian economy. It is not as if these decisions are meant to please only the industry or the MNCs, as is being suggested in certain quarters," Assocham President Rajkumar N Dhoot said in a statement.

Dhoot today appealed to leaders of major political parties, including West Bengal Chief Minister and Trinamool Congress Chief Mamata Banerjee, to support series of reforms announced by the Centre in the last two days, the industry body said in a statement.

Dhoot said the steps would also help in containing rising fiscal deficit, which is expected to cross six per cent of the GDP this fiscal.

"The revision in diesel prices should be taken in that perspective. Eventually, if the fiscal prudence is restored, there will be several benefits to the economy," he added.

Dhoot said the liberalisation of FDI policy would improve the sentiment and image of the India among the foreign investors.

"The Indian industry would like to appeal to the major political parties, including the Samajwadi Party, that the reforms will only help the Indian economy. Please support these measures," he said.

He said political parties should rise above the partisan issues and come to the rescue of the economy, which is going through a challenging period.

ALSO READ

DGCA scrutiny likely for airlines' levy on services

Deutsche Bank sees Sensex at 22,500 by Dec, further rate cuts

Air India to slash free baggage allowance, charge more

Kingfisher Airlines assets worth Rs 1,000 crore sold: SBI