Several policy measures on card to prop up investment climate: Govt

To arrest the declining industrial growth, Cabinet Secretary Ajit Seth while attending a high level meeting on manufacturing said, several policy measures are on the card to support investment climate. The meeting comes in the wake of negative growth in the manufacturing sector.

In July, the country's overall industrial output expanded by just 0.1 per cent as against 3.7 per cent in the same month last year, mainly due to declining manufacturing sector growth. The manufacturing sector, which constitutes 75 per cent of the index, reported a decline of 0.2% in July, and 0.9 per cent in the April-July period, as against growth of 3.1% in the same month previous year.

By adding further he said the government is committed to take steps to continue the growth momentum forward. On issues pertaining to certain changes being proposed in the country's tax regime, he said, government would like to see that we have investor friendly environment.