New Delhi: The Finance Minister may announce some encouragement for manufacturing and power sector in the coming budget. Especially new announcement is likely to come for coal procurement in power projects.

It seems that India Inc is not too much excited with the current growth in Index of Industrial Production (IIP). It has cautioned government not to get carried away with the current figures and has also warned not to assume that economic downturn has ended. On the contrary it is a good opportunity to examine the statistics and come-up with encouraging packages for the different sectors.

FICCI Secretary General Rajiv Kumar said that entire industry holds high expectations from the Finance Minister.

He should come up with suitable packages for different sectors in the budget. Shortage of coal is affecting power production; therefore, to ensure coal supply, the Finance Minister may announce some concrete plans in the budget.

Director General of CII Chandrajit Banerjee said that along with the budget, RBI also needs to come-up with announcement to eliminate economic slowdown. It is clear from the 6 percent fall in consumer goods sector that interest rate cut has become indispensable.

ASSOCHAM also emphasised on the need for comprehensive reform in power sector.