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FICCI reaction to IIP data for September 2012
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Friday, 16 Nov 2012
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Commenting on the Index of Industrial Production data for September 2012, Mr RV Kanoria President of FICCI said that “The negative IIP figure for September 2012 is indeed disturbing as it indicates that manufacturing growth had not bottomed out in previous months and both domestic and export demand continue to remain an area of concern for us.”

Mr Kanoria said that “At this juncture, it is important that Government does not lose momentum on reform front and need to take courage now to implement some big ticket reforms like implementation of GST, effective and time-bound coordination mechanism for project clearance envisaged in NIB, introducing competition in coal sector and introducing targeted delivery mechanism for existing development schemes to check the subsidy burden.”

He said that “Capital goods remain a cause for concern as the growth of this sector has fallen steeply in September and also figures for August have undergone for downward revision thereby reflecting a continued environment of subdued investment activity.”

Source - FICCI

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