Zee Media Bureau
New Delhi: Union Finance Minister Arun Jaitley on Tuesday said that most participants in the India Inc meeting chaired by PM Modi felt that we are going through a phase of volatility which might turn to some turmoil on the market.
“India will be among lesser impacted economies because of the global economic turmoil,” said Arun Jaitley. He said that India's economic fundamentals are reasonably strong.
Read: PM Modi asks industry to take risk, invest; India Inc wants rate cut
Earlier, during the day, the participants analysed recent global events and their impact on India. Many representatives of industries and economists were present.
Jaitley said that the industry leaders suggested that focus on agricultural productivity must be increased. The Prime Minister has laid thrust on low cost manufacturing emphasis and on job creating sectors such as MSMEs, the minister said.
He said that many participants wanted monetary policy easing by the Reserve Bank of India. “There are some sectors where the government needs to tie up loose ends,” Jaitley said.
The Finance Minister also said that several suggestions were made about destressing steel, textile sectors in the meeting with industry leaders earlier today.
