Govt. says that policy framework is creating a conducive business environment, Policies are strengthening infrastructure network and ensuring availability of required inputs. But on the contrary, industry bodies are having some other opinion on the subject of industrial growth. They talk about economic struggle, writes Faiz Askari.
Compiled by Faiz Askari
The Government is continuously taking steps to boost industrial growth including infrastructure sector which includes putting in place a policy framework to create a conducive business environment, strengthening infrastructure network and ensuring availability of required inputs. But on the contrary, industry bodies are having some other opinion on the subject of industrial growth.
“Foreign Direct Investment (FDI) policy and procedures have been simplified and liberalized progressively. The Government has also taken up a series of measures to improve Ease of Doing Business. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient and effective. The overall growth of the infrastructure industries is the interplay of many factors such as capacity utilization, investment cycle, seasonal factors, policy interventions, domestic and global growth outlook,” a written statement issued from the Government has mentioned.
However, As per the Index of Eight Core Industries (ICI), the details of growth of index of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity for the year 2017-18 over the year 2016-17 are given in the table below:
|Growth rate of Index of Eight Core Industries (in %) (base year 2011-12)|
|Year||Coal||Crude Oil||Natural Gas||Refinery Products||Fertilizers||Steel||Cement||Electricity||Overall Index|