New Delhi: The slow pace of economic growth has added to the woes of the Union Government which is already busy scuttling allegations of corruption and scams. In order to protect itself from the taint of economic slowdown, the Centre has started making all possible efforts to bring the growth trajectory on projected lines.

All the ministries at their level have started making efforts to accelerate the industrial growth. The concerned ministries have started holding parleys with the Industry. It is expected that by the end of the month, the government would formulate a strategy to maintain the projected economic pace.

After registering a slow rate industrial growth in the starting of the present financial year (2011-2012), it was expected that there would be a decrease in the rate of the Gross domestic Product (GDP). In view of which, Prime Minister Manmohan Singh has asked all his ministers who are related to the finance department to look for the appropriate reasons behind the slowdown.

It was after the PM’s order that the Union Commerce and Industry Minister Anand Sharma started holding talks with all the industry bodies. Minister of Heavy Industries and Public Enterprises Praful Patel also held discussions with representatives of the Auto industry. 

According to sources, Union Commerce and Industry Minister Anand Sharma and Finance Minister Pranab Mukherjee together would hold talks with selected industries, and on that basis the strategy to tab the economic pace would be ascertained. It is expected that the exercise would be completed before the half yearly review of the economy.

The Industrial growth has moderated to 5.6 per cent in April-May. During this period, the performance of the Auto industry was bad and the sales of the automobile majors like Tata Motors and Maruti Suzuki had also gone down.

(JPN/Bureau)