Passenger fares and freight rates were left untouched
Bilateral trade between India and Japan stood at $16.31 billion by the end of fiscal 2013-14.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
The industry also emphasised on supply-side interventions by the government to tackle persistently high food inflation.
Congratulating Narendra Modi on becoming the Prime Minister, India Inc on Monday said it is looking forward to an era of renewed trust and expressed confidence that the nation will leapfrog into a higher orbit of growth creating more jobs, income and social stability.
Emphasising that revival of growth should be the number one priority of the RBI at this time, industry groups said apprehensions about inflation rearing its head again may prove to be misplaced.
India Inc has expressed strong displeasure over the Delhi government's decision to withdraw approval to FDI in multi-brand retail, saying the move was likely to hinder foreign investments flowing into the country.
Showing signs of recovery, industrial production grew at 4.7 per cent in May, the highest since October 2012, on account of improved performance of manufacturing, mining and power sectors and higher output of capital goods.
Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
The Central bank primarily factors Consumer Price Index while deciding on policy rate.
With crude and commodity prices ebbing and the twin deficits under check, the Reserve Bank should have cut the key policy rate to push investments and boost economic growth, India Inc said.
Inflation dipped to a five-month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
Industry bodies called for implementation of measures announced in the Budget to arrest inflation, saying these would pave the way for a stable inflation regime.
Expressing serious concern over contraction in industrial output in November, India Inc called for immediate policy interventions, including a rate cut by RBI, to prevent job losses and boost demand.
The consumer durables segment declined by 23.4 per cent in June, as against a dip of 10.1 per cent a year ago.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
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