Friday, May 29, 1998
Sops for core sector in the offing
Infrastructure industries helped boost industrial production because of the higher 4.6% growth in their output (compared to 3.5% the year before,) but slipped up other industries that walk with their crutches, according to the Economic Survey. The Survey bears strong hints of policy packages in the offing, geared to encourage greater private participation in all infrastructure sectors.
Stress on greater private, foreign participation in transport
Forcasting an inadequate flow of resources from the government to the transport sector, the Economic Survey for 1997-98 has laid stress on evolving innovative incentive packages for attracting more private and foreign participation. Anticipating higher economic growth resulting in accelerated demand for infrastructural facilities, it has suggested appropriate pricing policies to enable effective cost recovery.
Need for positive stance towards FDI
The Economic Survey for 1997-98 has underlined the need for rapid growth in exports, which it says, remains one of the most critical factors influencing the long-term viability of the external sector. Vigorous efforts will be required to achieve a rapid growth of exports, in the context of the difficult international trading environment brought about by the recent currency crisis in South-East Asia, the Survey added.
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