After years of stringent policies the socialistic pattern was done away with by Manmohan Singh as a finance minister. The UPA government promises more reforms under Manmohan now the Prime Minister of India.
The government announced to the industry a new set of reforms in order to boost the slow down in manufacturing sector. This reforms will come about with setting of a joint task force with India Inc.
Several suggestions has been forwarded to the government for consideration. The reforms also include sectors like Income Tax, FDI, goods and services, and multi brand retail as well. All this transpired whence Commerce Mimister Anand Sharma held a review meeting with CII. He also intends to hold a review meeting with FICCI soon.
The urgency came into picture due to dismal industrial performance where the growth slipped down to 5.6 %. It also augured the need for a positive business environment in the country. Many factors and issues will be taken into consideration for a positive outcome.
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