SANJIV MEHTA PRESIDENT, FICCI ‘The World is Conspiring to Make India Victorious’ Calls for fiscal support if growth slows, cautions on further interest rate hikes Deepshikha.sikarwar @timegroup.com ‘itehasnotdlimi belie inthe India story Federa- 1y.in the India story” Mehta told While utilisation of capacity ‘tionof Indian Chambersof Com. ETinan interview has increased, more of thas be- merce & Industry (Fice) presi- ‘The government should eonti- en unlocked through the insol- dent Sanjiv Mehia said, calling nue to provide a safety net othe vency resolution process hesai. forfiscalsupportif growth slows poorinthecountry andlookatf-_Thisaugmentation may have im andurgingeautiononfurther in- scalconsolidation only when pri- acted private capital invest ‘creases in interestrates, ‘ate seetor capital investment mentslightiy Mehta, who also heads the co- kicksof.“Theriskappetiteofin- Withregaritomonetarytighte- untrys largest consumer goods dian businesses has not diminis- ning. Mehta sad, "We have to be company Hindustan Unilever hes” he said. “Of course, there very circumspect with the rate Léd(HUL),saidtheworidappears wouldbeabitofcautionwhen in-_hikesand how much weda.” ‘to be conspiring to make India Mationeameupandageopolitieal, ——— ‘win, “People believe, increasing: crisiserupted.” (rout tnkea ical Consolidation + 9Growth-linked Fiscal Consolidation >> FromPaget Ws difficult to maintain the twin objectives of curbing ination and fostering growth when there's pres- sureon the curreney and thebalance of payments while keeping the fiscal fefiettincheek he sai. He called for growvlinked fiscal consolidation "Yes, for us growth is very impor tant” Mebia said “If fOr instance, the economy shows buoyancy. there should be fiscal consolidation. But ‘onsolidation atthe costo growth is never advised,” ‘Hecommended the government for ensuring fe food grain to those at the bottom of the pyramid and its flexibility over the MGNREGA rural Jobs programme “This should eat hu," he said. “If inflaton continues ‘or gots worse, there willbe an impact ‘onconsumption and demand, "The government will have to be peu dent in ensuring that money keeps flowing in the economy to ensure srowth snotstiie. ‘Onagriculturereforms hesaidthe- ‘earemany ways o skin aca, refer ing fo the farm laws that had to be scrapped. "Just because we were not able to implement those scale of re ‘orms,weshouldnotgiveu”hesaid erected eitietsm of the govern: ‘ment for focusing on manufacturing “ither a country has a competitive edge, or you create a competitive ed e"hesad, Fortullreport goto ‘wwe economictimes com