New Delhi: India Inc on Thursday demanded a stimulus package of over Rs 1 lakh crore to kick-start investment cycle and revive the economy which is showing signs of a slowdown.
Industry leaders also said that the government has assured them to take action soon to boost economic growth.
In a meeting with top industry leaders, called by Finance Minister Nirmala Sitharaman to discuss ways to revive the growth, Assocham President B K Goenka said that amid the current slowdown in the global and domestic market, there is a need to have quick-fix solutions.
"The economy requires a critical intervention by introducing a stimulus package. We have suggested for a package of over Rs one lakh crore," he said.
After the three-hour-long meeting, India Inc also said the government has assured to take action soon to revive the industry and push economic growth.
Sitharaman and ministry officials met captains of the industry to deliberate upon the issues about the economy and sagging industrial growth.
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JSW Group Chairman Sajjan Jindal said: "It was decided that the government is going to take action very soon to revive the industry and it is a matter of sentiments. We got positive feedback from the finance minister".
The minister in clear terms gave assurance that "very soon" solution would be found, he said, adding the industry is suffering from issues in sectors like steel, NBFC, and automobile.