New Delhi: The government needs to walk the talk by accelerating reforms and pushing policies in the next 10 days, industry body Ficci said on Thursday.
Asking the government to ease monetary policy and provide fiscal stimulus among other things, Ficci presented a 12-point agenda to Prime Minister Economic Advisory Council (PMEAC) Chairman C Rangarajan.
"The government needs to walk the talk regarding policy reforms...Policies need to be pushed in the next 10 days. If the government won't take appropriate action, people won't give them (government) the benefit of doubt," FICCI Secretary General Rajiv Kumar told reporters here after meeting Rangarajan.
The industry body said it is less than optimistic of a strong economic revival in the near term due to lack of policy reforms and uncertainty in the eurozone.
However, "the impact of the economy is likely to be far more effective if gets complimented by some strong measures such as improving investment climate," it said in statement.
In FY 2012, Gross Domestic Product (GDP) of the country had come down to 6.5 percent, below advance estimates of 6.9 percent.
Industrial production growth rate slowed to 2.4 percent in May 2012 due to contraction in capital goods and mining output, coupled with poor show by manufacturing sector, indicating persistent slowdown.
Presenting a 12-point agenda to Rangarajan for putting economic growth back to track, Ficci President R V Kanoria asked the government to eschew the temptation of a premature welfare state and announce an immediate moratorium on any additional expenses on doles.
The industry body demanded that the government expedite implementation of Goods and Services tax (GST), ease monetary policy, provide fiscal stimulus for investments across the sectors and push FDI policy reforms in areas like multi-brand retail among others.
It also urged the government to address the issue of repatriation of black money to immediately mitigate the Balance of payment (BOP) situation by entering into global revenue sharing agreements.


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