India's Prime Minister, Dr Manmohan Singh, on Tuesday called on businesses to take steps to absorb the rise in input costs in order to maintain price stability.
Speaking to the Annual General Body meeting of the Confederation of Indian Industries (CII) in New Delhi, the Prime Minister said that industry must also pass on the benefits of tax and duty cuts to consumers.
“The prospects for domestic growth remain good if we can ensure price stability that will help sustain the growth momentum,” he observed.
The Prime Minister reiterated that the Government is fully aware of the challenges ahead, and has taken several steps to reverse the recent spurt in prices.
“I am confident that we will be able to moderate the price rise,” he added.
Dr. Singh also called upon industry to make commitments for sustained growth of productivity and innovation as an integral part of the philosophy of corporate management.
“It will help our firms, it will help the Indian consumer,” he argued.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment