Ahluwalia rules out any more stimulus packages

October 12th, 2009 NEW DELHI - 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.

October 5th, 2009 NEW DELHI - India's economy will grow at 6.3 percent this fiscal as per prediction, while inflation would remain under 5 percent, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia. "The GDP (gross domestic product) would be at 6.3 percent by the end of this fiscal, as predicted, but could be even better given the signs of economic recovery," Ahluwalia said here Monday.

October 5th, 2009 NEW DELHI - Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, on Monday said that India's Gross Domestic Product (GDP) is expected to grow at a rate 6.3 per cent during this financial year. Ahluwalia said this on the sidelines of the launch of the United Nations Development Programme's (UNDP) 2009 Human Development Report in the national capital.

September 14th, 2009 NEW DELHI - India is concerned about protectionism in the global financial markets in the guise of regulation but does not see any adverse impact on the inflow of overseas funds, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Monday. "We are concerned that in the guise of improving regulations, they should not be putting in place rules that end up discriminating against developing nations, Ahluwalia said on the margins of a conference on the upcoming G20 Summit in Pittsburgh.

July 21st, 2009 NEW DELHI - India's corporate sector does not need any more stimulus packages, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Tuesday. "The budget includes very significant boost in plan expenditure and investment.

July 15th, 2009 NEW DELHI - The Bharatiya Janata Party's S.S. Ahluwalia is usually known for his booming interventions on a variety of issues in the Rajya Sabha.

July 14th, 2009 NEW DELHI - The government is determined to bring the fiscal deficit under control, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Tuesday. Addressing economists at a seminar organised by the India Policy Forum, he said the fiscal stimulus provided by the government had put a burden on the deficit but the package was necessary in the given economic scenario.

June 8th, 2009 NEW DELHI - The government has the scope to raise funds by selling shares in state-run firms even as subsidies need to be recast to benefit the needy, Montek Singh Ahluwalia said Monday, taking over as deputy chairman of the Planning Commission for a second successive term. "There is scope to raise significant resources through selling government stakes in the state-run companies," Ahluwalia told reporters at his first press conference after he was named the deputy chief of the plan panel.

April 7th, 2009 NEW DELHI - India should have more fiscal stimulus measures to help the economy weather the global slowdown, Planning Commission Deputy Chairperson Montek Singh Ahluwalia said here Tuesday. 'We should have more fiscal stimulus measures.

March 28th, 2009 NEW DELHI - Deputy Chairman of Planning Commission Montek Singh Ahluwalia has acknowledged the need for another stimulus package for reviving the economy in next fiscal. Talking to the reporters on the sidelines of a function in New Delhi today to mark the release of a report on Competition and Regulation in India, Ahluwalia revealed that this could be considered in the budget after the General Elections.

March 27th, 2009 NEW DELHI - Deputy Chairman Planning Commission Montek Singh Ahluwalia today said that the economy will pick up in the second part of the fiscal and will grow between 6.5 to seven per cent. Participating in the annual CII Conference here, Ahluwalia said that more fiscal and monetary measures might be necessary in future to achieve the growth target.

March 27th, 2009 NEW DELHI - The Indian economy will log a growth of less than 7 percent this fiscal with 2009 turning 'significantly worse' as the current economic crisis was unlikely to end soon, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Friday. 'The world is going through the worst crisis in 60 years,' Ahluwalia told the national conference and annual session of the Confederation of Indian Industry (CII) at the Taj Palace Hotel here.

February 4th, 2009 NEW DELHI - A leading Indian garment exporters' lobby Thursday demanded sops like duty cuts and interest free loans to help them tide over a crisis that has seen thousands of layoffs. 'We really don't know what step we would take further without any special package for our industry,' said Apparel Export Promotion Council (AEPC) chairman Rahul Vaid.

January 30th, 2009 CHENNAI - The government will announce sector-specific stimulus packages within four to six weeks in addition to the two previous packages to protect jobs, Ashwani Kumar, minister of state for industries, said here Saturday. 'The proposed stimulus packages will focus on export-oriented sectors as well as industries that employ a large number of people - like automobile, textiles, leather and construction,' Ashwani Kumar told reporters after inaugurating the 24th India International Leather Fair.

January 19th, 2009 NEW DELHI - There will be no tax breaks before the budget, the government said here Tuesday. 'I don't expect tax breaks between now and the budget session,' said Planning Commission Deputy Chairman Montek Singh Ahluwalia.