Rahul Ahuja elected to Montek Ahluwalia led group of experts

TNN | Apr 27, 2020, 07:09 IST

Ludhiana: One of Ludhiana’s prominent businessmen and chairman of Confederation of Indian Industry (CII), Punjab chapter, Rahul Ahuja has been appointed as the member of the group of experts headed by former chairman of planning commission, Montek Singh Ahluwalia. This group will prepare the post covid revival strategy for the state of Punjab and will chalk out ways for the state’s economic revival. This development holds huge significance for Ludhiana as being industrial hub of the state, city businessmen have now a representative who can directly take up their issues with the state government.
Meanwhile speaking to TOI about the development, Ahuja said “I feel honoured to be chosen to be part of such an elite group which will steer and shape Punjab’s future. This group which is headed by world renowned economist Montek Singh Ahluwalia comprises of leading economy and industry experts, will recommend to the Punjab Government a short-term as well as medium-term Action Plan, including a fiscal management strategy along with other policy measures to revive the State’s economy in the aftermath of the Covid-19 crisis. The group will also be identifying the key actions that are needed to help Punjab get to its "new normal" growth rate and restore it to a pre-eminent position in the country and globally”
Meanwhile listing his agendas for revival of industrial sector in Punjab Ahuja informed, “I am open to suggestions from all businessmen and business associations of the city and I request everyone to apprise me about their demands. However I feel that in order for the trade and industry to come back on the path of progress several steps need to be taken by both state and central government. First and foremost all banks have not passed the complete benefits of Repo cut announced by RBI which should be done immediately. Government should urge banks to increase the working capital limit by 25 percent as without this, it will be very difficult for industries to restart after lockdown period. Interest payment for 3 months has been deferred but its not enough. It has to be waived off for 3 months and for next 6 months all loans should be at max 6 percent rate of interest. Government should come out with a technology upgradation soft loan so that industries can upgrade to beat China . Free movement of buses and trains should not be allowed atleast for one month after end of lockdown to avoid spread lf corona to less infected areas”