The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has expressed its serious concern over the stiff fall in 6 core infrastructure industries to 42% in January 2008 against 8.3% in the corresponding period last year, describing that the impact of global slowdown particularly that of USA is now being felt in Indian economy.
In a statement issued here, the ASSOCHAM President, Mr. Venugopal N. Dhoot said that government intervention is now called for with corrective measures to enhance the performance of core sector to ensure that this revives.
Improvement in power sector particularly on generation side is called for with betterment in its transmission lines and power theft needs to be controlled with strict monitoring from respective state governments. The Chamber has predicted that despite slow down, the GDP growth of current fiscal will end up to over 8.5%.
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