Dear Esteemed Members of the Media,
Kindly find appended below the press release on CII's statement on WPI. May I request you to kindly carry the same in your esteemed Media With Warm Regards, Geetika _________________________ Geetika Goyal State Head-Goa Confederation of Indian Industry 502, Unitech City Center, M. G. Road, Panaji, Goa 403 001 Tel: 0832 - 2422790 / 2422796 / 8806133455 E-mail: [email protected] CII Statement on WPI Statement of Mr Chandrajit Banerjee, Director General, CII CII notes that the inflation numbers are essentially the result of an increase in food prices and a marginal rise in manufacturing and fuel products during the month Breaking the spiral of rising price pressures is necessary to revive industrial production, augment financial savings and strengthen the foundations of growth. To curb food inflation, there is need for urgent remedial measures for augmenting agriculture supplies with steps such as implementation of the model APMC Act, developing advanced supply chains, lowering procedural hurdles in the way of FDI in retail etc. The rise in inflation should not come in the way of an accommodative monetary policy announcement on December 18, as it is of utmost importance to strengthen investor sentiments which have been adversely affected by high interest rates. High interest rates at this stage may only worsen the industrial slowdown without helping ease inflation. The government should, in tandem, take proactive policy initiatives with a focus on enhancing structural reform, thrust on project implementation, removing procedural bottlenecks, providing conducive regulatory environment, resolving issues in mining etc which would ease supply constraints. 16th December 2013 -- ------------------------------------------------------------------------------------------------------ Disclaimer This message, including any files transmitted with it, is for the sole use of the intended recipient and may contain information that is confidential, legally privileged or exempt from disclosure under applicable law. If you are not the intended recipient, please note that any unauthorized use, review, storage, disclosure or distribution of this message and/or its contents in any form is strictly prohibited. If it appears that you are not the intended recipient or this message has been forwarded to you without appropriate authority, please immediately delete this message permanently from your records and notify the sender. CII makes no warranties as to the accuracy or completeness of the information in this message and accepts no liability for any damages, including without limitation, direct, indirect, incidental, consequential or punitive damages, arising out of or due to use of the information given in this message.
