Prime Minister Manmohan Singh, who held a meeting with industry leaders on Monday, promised to introduce an "actionable plan" within a month to provide a much-needed boost to the economy.

During the meeting, Mr. Singh shared economic issues with the likes of FICCI President & HSBC India Chief Naina Lal Kidwai, HDFC Chairman Deepak Parekh, and CII President Kris Gopalakrishnan.

Some industry leaders expressed their concerns, while some industrialists gave suggestions on how to fix issues, improve overall business sentiment and bring the economy back to a growth path of 8 per cent or more.

FICCI President Kidwai said that they gave suggestions in two categories - for near term and longer run. For near term, they suggested that large projects should be cleared and those projects that have already been cleared should be executed.

After the meeting, CII President Kris Gopalakrishnan said, "The PM has promised to come back (with government response)... It's reassuring to see that the government is still committed."

They also discussed measures to correct the country's current account deficit; slowdown of industrial growth; skill development; and depreciation of the rupee and its impact on trade and industry.

India's gross domestic product (GDP) grew just 5 per cent during the financial year of 2012-13. It was the country's slowest growth rate in a decade.