Working on policy measures to boost factory output: Suresh Prabhu

“We are taking a lot of policy measures. I am personally working with the ministry of finance, the Niti Aayog and all other government institutions to provide necessary policy as well as fiscal support to ensure the industry can actually produce far more than what they are doing today, which will create jobs,” Prabhu told reporters on the sidelines of the World Economic Forum’s (WEF) India Economic Summit, amid expectations that the government could come up with a package to prop up the economy.

Sectors after sectors are being studied to find out the scope for improvement and appropriate policy response are being adopted, he said. The minister also said the entrepreneurial spirit of the private sector has a prominent place in the country’s growth story. “Our aspiration is to become one of the easiest places to do business. My business is to make sure others do their business,” he said. Though Prabhu didn’t elaborate on the broad contours of the new industrial policy,

Look beyond Q1 GDP figure: DIPP secy

Speaking at a separate session, DIPP secretary Ramesh Abhishek asked analysts to look beyond the headline GDP growth for the first quarter (which hit a 3-year low of 5.7 per cent) and take into account substantive reforms undertaken by the government, while assessing the country’s economic performance. FE