All the three apex chambers, FICCI, CII and ASSOCHAM have prepared their action plan for implementation and the papers will be sent shortly.

The chambers underline the need for sustained growth in agriculture and the need for boosting rural economy to pep up demand in the countryside. The global slowdown has taught the lesson that the domestic economy has to be strengthened at all costs by expanding demand within the country. Foreign investments and exports can be supplementary efforts to strengthen the economy but not at the cost of core domestic sectors. FICCI, for instance, mentions that to restore growth, the government has to give a decided push to the real sectors; and it has to be ensured that the agriculture sector grows by at least 4 per cent a year. Similarly, the manufacturing sector has to be given a big boost since this area has been adversely affected by the slowdown.

As regards the action agenda for the agricultural sector, the industry wants that priority sector lending norms for banks have to include investments made by corporates in agri market infrastructure in the direct finance category. Further private sector investment in agri infrastructure, agricultural research and development and extension services should be eligible for 150 per cent weighted deduction. Similarly, the chambers are in favour of setting up an empowered committee to resolve the pending issues including the need for bringing uniformity in laws across states.

After agriculture, infrastructure is the area which is expected to get a big focus in the new agenda of the second UPA regime. FICCI has suggested that work should be restarted on the stalled projects. And the projects which need immediate attention include roads and highways, ports, airports and railways. The specific projects include National Highway Development Programme of four phases from second to fifth. These are four laning of North South East West corridor, connecting important tourist locations and state capitals with NHDP phase1 and two, widening of 20,000 km of existing single/intermediate highways to two lanes and six laning of 6500 km of national highways comprising GQ and other high density stretches.

As regards ports, the programme proposed includes deepening of channel at Paradip port, deepening and widening of Mumbai harbour and Jawaharlal Nehru port channel. In the airports category, priority is for modernisation of Chennai and Kolkata airports and upgradation of 35 non-metro airports. In the railways category, dedicated freight and industrial corridor has been suggested. One major suggestion is that a mechanism has to be evolved that can help minimise the cost and time overrun in the case of infrastructure projects.

One chamber wants that a robust inventory of infrastructure projects should be developed and these should be offered to the industry. Besides, complete project dossiers with all approvals granted should be offered to the private sector through the competitive bidding route. As regards special economic zone policy, the chambers want stability and there should not be sudden changes due to local pressures.

For reviving the manufacturing sector, the chambers want 100 per cent export tax benefit to be given to the manufacturer-exporters under section 80HHC should be restored and VAT applicable for manufactured products should be uniform and 4 per cent in all states. Further, the banks should offer loans to industry at a rate of interest in the range of 8 per cent to 10 per cent.

Once the Manmohan Singh government announces its own agenda after taking over, the chambers will analyse that and forward further suggestions. The 2009-10 budget is due to be presented by the new regime in July this year. Before that, a lot of discussions will be taking place with the representatives of the industry and the organisations of farmers. The coming budget will adequately reflect the government's thinking on the ways to halt the slowdown in the manufacturing sector and pep up the economy with fresh measures. (IPA)