Stimulus package needed next fiscal also: Plan panel

December 19th, 2008 - 5:53 pm ICT by IANS  

New Delhi, Dec 19 (IANS) India will need a stimulus economic package in the next fiscal also as the country would continue to face the impact of global slowdown, Planning Commission Deputy Chairman Montek Singh Ahluwalia here said Friday.”The global slowdown will continue even in the next year and the stimulus package should be extended to the next fiscal also,” he told reporters on the sidelines of a function here.

“The need for fiscal stimulus will not end this fiscal and will go beyond that,” Ahluwalia said, and added that the fiscal deficit would be higher on account of the stimulus package announced recently.

He said if Indian economy grew 7 percent this fiscal, it would be “good”.

Concerning the annual rate of inflation, which fell to 6.84 percent Thursday, Ahluwalia said this was expected and that it would come down even further.

Tags: , , , , , , , , ,

Posted in Business |