The country's economy is going through a critical phase. The quarterly rate of economic growth has come down to four and a half percent. If industries are complaining about not getting loans from banks, then the government has been making efforts to speed up the economy for the last three months. At such a time, the industry is looking at the government with hopeful eyes. Newly appointed Niranjan Hiranandani, president of the Industry Chamber Assocham, told a media reporter in his first interview after assuming office that the government was repeatedly listening to industries and taking steps to manage the economy. In my opinion restructuring of bank loans of industries is the biggest need today. Just as during the financial crisis of 2008, the industries were given more time to get relief in repayment and repayment of debt, similarly industries should get time in the present. Most industries are currently in crisis. Be it automobile, real estate or SME sector. The production capacity of companies has been limited due to lack of demand. The debt that companies had taken for expansion is becoming increasingly difficult to pay. Therefore, it is important that companies should convert these loans into NPAs, before that their restructuring work should be done.

You are right. The government is constantly taking steps, but the situation is still in need of many more relief measures. Whatever the industries have received so far from the government is not enough. I think there is a need to give relief of at least 25 percent in the rate of GST for some time. This relief should be applied not to certain products or services, but to the entire group of GST. This will provide fuel to speed up the economy. Demand will arise in the economy and its wheel rotation speed will increase. If demand increases, there will be pressure on the supply side as well. I can tell you with confidence that every company is willing to invest. Therefore GST should be relaxed to increase demand. I believe that the government should not focus too much on its fiscal management. If the government's fiscal deficit increases, it should be allowed to increase. But the need of the hour today is to speed up the cost of the system. Fiscal deficit is number one. We should focus on enriching the people of our country right now. I would say that the government should increase its targets in the infrastructure sector. For example, the road construction target in the country should be doubled. New government projects should be started. This will not only increase employment, but will also increase demand in other areas which will have a positive impact on the supply side.

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