We have very high indirect tax structure. Given the fiscal constraints, I think it will take a long time. Atleast certain sectors, which have been affected severely by the pull down of the demand can expect a duty reduction. Particularly the automobile sector and the capital goods sector, if they can be given reduction in excise structure that will stimulate the demand. Too much has been said about infrastructure development and nothing seriously seems to be happening, except a little bit in the area of telecom and road development.
Clarity has to emerge on the total policy framework for infrastructure.
Look at the power sector. We have been adding only 2500-3,000MW of capacity every year. So there is huge promise performance gap in this sector. Everybody has talked about what policy options are available - the Electricity Boards have to be transforming themselves and also distribution and transmission has to become part of the private sector activity. Essentially industry is suffering because they're no trigger mechanisms for demand.