IMC submits action plan to new government

MUMBAI: Submitting an action plan in view of upcoming first budget of the newly elected government Indian Merchants��� Chamber lays focus on four core sectors viz. agriculture, infrastructure, education and manufacturing. Drawing attention of the government, the merchants��� body further pitches for creating a conducive climate to achieve carbon neutrality by all stakeholders in the business community.

IMC President, Gul Kripalani, has in a letter to the Prime Minister, Dr. Manmohan Singh, said that that those five key areas including (four sectors and the issue of sustainability) were the primary drivers of Indian economy and therefore any success achieved in these areas had the potential to boost the entire economy and ensure all round growth and development.

In agriculture sector, the IMC mentioned about the need of reviewing the agricultural Lands (Ceilings on Holdings) Act 1961 to facilitate corporate farming at the state level, especially in wastelands.

While IMC has suggested fast track implementation of infrastructure projects by choosing 50 major projects and monitor them on all India basis, it advocates for foreign investment in education sector.

As far as manufacturing sector is concerned, it puts emphasis on easy and cheaper credit facility to SMEs, export units, and labour-intensive units.

���Unless and until SMEs grow in a faster pace, economy cannot improve. Contributing 50-60 per cent of GDP growth in our country SMEs help immensely in employment generation while keeping the financial cycle running,��� pointed out Anil Ruia, managing director, the Kolhapur Sugar Mills.