Move to revive manufacturing
Industrial output growth slowed to a 10-month low of 5.3 per cent in January, indicating a slowdown in the manufacturing sector. This has set alarm bells ringing in the Commerce Ministry.
G.K. Pillai
Now, the ministry is taking steps to revive manufacturing. Officials told BT that they want the Finance Ministry to act on the proposals of V. Krishnamurthy Committee to give a fillip to manufacturing.
Says G.K. Pillai, Commerce Secretary: “The interim report of the committee is ready and it has made recommendations like duty-free imports of capital goods and continuing with tax holidays for 100 per cent export-oriented units (EOUs).”
— Rishi Joshi
