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Call for Indian govt to withdraw stimulus packages slowly

HYDERABAD, Sept 18, 2009 (Asia In Focus via COMTEX) --

Company: Bank of India (BKIAF)

The Prime Minister's economic panel on Thursday said the Indian government and the Reserve Bank Of India (RBI) will have to slowly withdraw the stimulus packages given during the slowdown once the economy begins to show surer signs of recovery. "There should, however, not be a premature withdrawal and the RBI has to guard against re-emergence of inflation," Chairman of the Prime Minister's Economic Advisory Council C Rangarajan said on Thursday in his address to a seminar on 'International Financial Crisis and Its Impact on India'.

* The former Governor of RBI said India would see "definite signs of recovery" in the second half of 2009-10.

* On growth forecast, he said this fiscal year will see a rate of 6 and 6.5 per cent, but it will be higher next fiscal year.

Copyright (C) 2009 Asia in Focus. All rights reserved

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Company: Bank of India (BKIAF)


Related terms: government, india, inflation, rbi

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