New Delhi, Oct 12 (Inditop.com) The government Monday ruled out any immediate withdrawal of the economic stimulus even though the economy has started showing signs of recovery.
“Until the growth rate reaches 7 percent, it would not be reasonable to discontinue with economic stimulus. There is not much case of reversals in the current fiscal year,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here on the sidelines of a conference.
“We need to make sure that we do better than our estimate of 6.3 percent.”
The current financial year is unlikely to be a good year for India’s export sector, he said, hoping that exports would pick up next fiscal.
“Exports can only pick up on global demand. We were neither totally dependent on other countries for exports nor independent also,” Ahluwalia said.
