Sinha identifies key sectors in need of attention

OUR CORPORATE BUREAU

MUMBAI, Sept 10: Finance minister Yashwant Sinha on Wednesday identified steel, cement, commercial vehicles, paper, capital goods and textile industries as the key problem sectors which may require immediate attention of policy makers. Speaking to a gathering of industry captains, Sinha said that his ministry is exploring concessions to prop up the "problem" sectors.

However, the finance ministry is not planning wholesale tax concessions. "In sectors where there is no demand elasticity, we may not be in a position to offer tax concessions," the finance minister admitted. The minister stressed that although the economy is not in the pink of health, there is no room for pessimism. "We will offer remedial measures to sectors caught in problems, but the silver lining is that there has been definite signs of revival," he said.

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