Govt has taken steps to boost business sentiment: Pilot

New Delhi: Acknowledging that industrial downturn adversely impacts corporates, said the government has taken various initiatives to uplift overall business sentiment and boost investments.

"While measurement of corporate performance does not lend itself to a precise assessment within a short span of six months, it cannot be denied that a down-turn in industrial performance adversely affects the corporates," Corporate Affairs Minister Sachin Pilot told the Rajya Sabha in a written reply.[caption id="attachment_1292245" align="alignleft" width="380"] Union Minister Sachin Pilot. Image courtesy PIB[/caption]

Pilot said that the government has taken several measures such as liberalisation of FDI policy and the new Companies Act to uplift the overall business sentiment, boost investment and strengthen the industry.

Other government initiatives include announcement of the National Manufacturing Policy, implementation of Delhi Mumbai Industrial Corridor project, setting-up of the e-BiZ to promote ease of doing business, he said.

"The Cabinet Committee on Investment has been set up to monitor investment proposals as well as projects under implementation including stalled projects and guide decision making in order to remove bottlenecks and quicken the pace of implementation," Pilot said.

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"In his budget speech for the year 2013-14, the finance minister has also proposed to introduce an investment allowance for new high value investments to attract new investment and to quicken the implementation of projects," he said.

Impact assessment of these measures has not been conducted, Pilot said.

PTI