Kamal Nath to announced export packageDecember 11th, 2008 - 7:50 pm ICT by ANI
New Delhi, Dec 11 (ANI): Commerce and Industries Minister Kamal Nath today said that the Government would consider another financial assistance package for the export sector next week.
Addressing a news conference here Nath said, “The package which will be announced will generate further demands. Our growth is domestic demand driven. We will have to ensure that our domestic demand continues and government will be taking all the steps including greater investment to ensure that demand in the domestic economy continues in a healthy manner.”
Nath added that he expected exports to grow by 16-20 per cent in the current fiscal year ending in March 2009.
“We do not want to wait until we have the whole thing ripe and ready. We are looking at the employment generating sectors. We are looking at the financing needs of the companies. With inflation now coming down and hopefully will come down by another five per cent, not by five per cent but five per cent of the inflation figure of last week. The inflation trend is continuing to fall,” said Nath.
Government has already announced about Rs 35,000-crore stimulus package last Sunday, besides reducing four per cent excise duty across the board and plans to raise public expenditure by additional Rs 20,000 crore during 2008-09. (ANI)
Tags: assistance package, current fiscal year, domestic economy, excise duty, export sector, financial assistance, industries minister, inflation figure, inflation trend, kamal nath, last sunday, New Delhi, news conference, public expenditure, sectors, stimulus package