The Hindu : Business : PM’s assurance to industry

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PM’s assurance to industry

Special Correspondent

Efforts will be taken to tame impact of global slowdown

NEW DELHI: Prime Minister Manmohan Singh on Friday assured the captains of industry that the various concerns of India Inc., including the pressures owing to the rising rupee, would be taken care of in the forthcoming Budget session. In response to the outgoing FICCI President Habil Khorakiwala’s apprehensions on account of the appreciating rupee against the U.S. dollar, Dr. Singh said: “We are in the midst of the Budget session and the relevant Ministries of the Government will take care of what your [FICCI] President has stated.”

Addressing corporate honchos at the apex chamber’s annual general meeting here, Dr. Singh said that he was aware of the many persisting problems. “It has been our effort in the Government to redress these to the maximum extent possible within the political parameters of the day.”

On Mr. Khorakiwala’s plea that tax benefits for the export sector should be restored, even if temporarily, Dr. Singh said: “It is a priority concern and exporters will find a ready listening point in our Government.” Mr. Khorakiwala had pointed out that soft interest rates would make projects, currently on the drawing board, viable. Referring to the global slowdown, Dr. Singh said: “We will take steps to limit their impact on us. The Finance and Commerce Ministers are seized of the matter...We will take all possible steps to help our industry.”

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