Tamil Nadu Chamber of Commerce and Industry while suggesting measures for the revival of the economy, has urged the Union Government to openly disclose the reasons for the present economic debacle to the people.
In a statement, the chamber suggesting measures, both short and long-term for the revival of the economy, has said that barring essential goods, the Government should ban import of non essential goods or opt for import duty hike / anti dumping duty to substantially bring down the quantum of imports. In order to reduce import of petroleum products, temporary restrictions may be imposed on their use as enforced in many other countries.
The Government should also impose restrictions for outward movement of dollars by Indian investors in foreign countries. Non-plan expenditure of the Government especially foreign travel by Ministers and officials should be appreciably restricted. Innovative schemes for multiplying agricultural production should be introduced to improve rural economy and employment opportunity, it said.