The manifesto also promises steps to help industry grow at a minimum rate of 10-12 per cent per year. Stressing the need for an institutional mechanism to help address the problems faced by industry, the party has proposed to set up a National Manufacturing Competitiveness Council which will help initiate a policy dialogue in this regard.

To keep prices of essential commodities under strict control, the manifesto says that a Cabinet Committee on Inflation Control will be set up tomonitor the price situation on a weekly basis. Besides, changes will be brought about in the Essential Commodities Act to make it a more effective instrument of price control.

Sources said that steps will be taken to avoid situations like the one witnessed in 1998 when the country witnessed an unprecedented increase in the prices of essential food items due to the allegedly insensitive policies of the BJP government. The Congress manifesto has promised to take strict action against black marketers, speculators and hoarders.

The party will enact a new `competition law' to ensure free and fair competition and check restrictive, unfair, monopolistic trade and business practices.

Sources said that the party manifesto has called for making the anti-dumping machinery more effective and timely. The party will formulate policies to support Indian industry to cope with the challenges posed by WTO agreement. Priority will be given to the textiles and pharmaceutical sectors in this regard.

Special measures willbe taken to boost the agro-processing industry through suitable fiscal, technological and investment policies. Indian multinationals and Indian brands will receive encouragement and support, the manifesto says.

The party has promised to further liberalise the procedures for overseas investments by Indian firms for acquisitions.

Besides providing pragmatic support to the SSI sector, it will try to foster complementarily between large, medium and small industry. The party will constantly review the reservation policy for the SSI sector, especially where there is need to accelerate exports and introduce new technology.Congress will support industry in its endeavours to restructure, consolidate and meet the challenges of a changing economic scenario.

To tackle the problem of industrial sickness effectively, the BIFR will be completely revamped and a new Sick Industries Companies Act will be introduced to facilitate quick restructuring and industrial revival. The party will also try to evolve a nationalconsensus on a new Industrial Relations Bill. It will strengthen the social security and insurance schemes for workers in the unorganised and informal sectors, especially for women.