Need of economy booster package in FY'10, too: Montek
The Planning Commission today said the country's economy will need stimulus package in next fiscal as well since global slowdown will continue in 2009-10.business Updated: Dec 19, 2008 12:37 IST
The Planning Commission on Friday said the country's economy will need stimulus package in next fiscal as well since global slowdown will continue in 2009-10. "It is certainly my view that the need for fiscal stimulus will not end this fiscal and will go beyond that," Planning Commission Deputy Chairman Montek Singh Ahluwalia said on the sidelines of a function to mark the 75th birth anniversary of Nobel laureate Amartya Sen. "Since global slowdown will continue next year also, fiscal stance that needs to be considered should not be just for this fiscal but also for the next year," Ahluwalia said. He said the fiscal deficit will be higher on account of the stimulus package that the government has announced recently and the government will report this to Parliament at the right time.
On falling inflation he said, "I have already said it will come down, it has come down. It may come down even further".
On economic growth he said," Seven per cent growth will be a good performance".