RBI-LD PRANAB 2LST

On the possibility of more monetary action by the RBI on
its first quarter monetary policy on July 27, he said, "There
may be or not be. Currently, it is in the internal debate
stage. I cannot disclose it."
The Indian economy had slowed down during 2008-09, after
the global financial downturn impacted it and grew by just 6.7
per cent that year. However, stimulus provided by the
government enabled the economy to recover, because of which
the measures were partly withdrawn in the Budget for 2010-11.
Mukherjee said he had resorted to the gradual exit from
the stimulus measures taken at the time of economic downturn,
considering the growth pattern of the economy.
"I cannot remain on the ground by providing more and
more stimulus," he said, adding that the stimulus packages,
equivalent to three per cent of GDP, had paid dividends by
arresting the decline in GDP growth. PTI DC
RBT


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