Committee to look into regulatory framework: Suresh Prabhu

Commerce and industry minister Suresh Prabhu meets industry representatives to discuss measures that can be taken to revive growth.

The Centre has plans to soon form a ‘regulatory review committee’ to address policy-related roadblocks and other issues coming in the way of private investment, an ET report said.

Commerce and industry minister Suresh Prabhu is said to have met representatives from FICCI, CII, Assocham and PHD Chamber of Commerce and Industry to address factors inhibiting industrial growth of the country and discuss measures that can be taken to revive growth.

"We had a useful, productive and forward looking meeting. We will see what we can do together to push growth to a higher trajectory," Prabhu was quoted as saying.

Chief economic adviser Arvind Subramanian also attended the meeting. Following the meeting, Prabhu directed the industry department to set up an advisory group looking into the regulatory framework.

The Centre is also working on ways to ensure use of the industry’s unutilised capacity, a report by The Hindu said. Currently, the country-wide average unutilised capacity stands at about 26 per cent. The government is mulling measures to increase domestic demand as well as boost exports.

Source: ET, The Hindu


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