FICCI looking forward to budget giving positive direction to Indian economy

New Delhi, Feb.8 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday said that it was looking forward to budget 2016-17 taking the Indian economy on the forward track.

In a statement, Dr. A. Didar Singh, Secretary General of FICCI, said “GDP estimates released for the year 2015-16 indicate that economy is firmly holding on to the recovery course. Reform measures taken over the past 18 months have put the economy on the growth trajectory.”

“The improvement expected in the agriculture and manufacturing sectors in the current fiscal is encouraging. Some moderation has been reported in the other key sectors of the economy and we do hope to see a turnaround in near future,” he added.

“However, the monthly IIP data which is an indicator of industrial performance remains volatile, which is a matter of concern,” Dr. Singh said.

“Going ahead, we hope to see a continued momentum on the reform front. We look forward to the Union Budget giving a positive direction to the economy. The focus should clearly be on introducing measures to further boost domestic investments and demand,” he added. (ANI)

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