The purpose of the central schemes like production-linked incentives for various sectors will be defeated if the Centre does not rein in the spiralling input costs which has particularly harmed the micro and small industries sector, said FKCCI, in a press release, while welcoming the Prime Minister’s assurance to India Inc. during the consultative pre-budget meet.
Responding to the Prime Minister’s suggestions for reducing compliance burden, Dr I.S. Prasad, president, FKCCI said a master document listing all the regulatory requirements from different departments to be met by industry & trade should be made available in one place to ease and improve compliance.
The country’s aspiration to see its industries among the top five in the world can be fulfilled only if the Government continues in its reforms path, and not take a step back against any pressures, he said. Citing an example of the kind of reforms required, he observed that “the latest draft electricity bill under discussion in Parliament should enable the unhindered entry of private power distribution companies so as to give more options to the consumer”.
