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| No more stimulus package for industry: Montek | | |
New Delhi July 21
Planning Commission Deputy Chairman Montek Ahluwalia on Tuesday ruled out any more stimulus package for industry as the Budget has given a substantial boost to the slowing economy.
"The Budget includes a very stringent boost, plan expenditure and investment ... We don't need any more stimulus packages," Ahluwalia told reporters here.
"We should concentrate on implementing what is there," he said. The Government has cut excise duty by six percent and service tax by two percent in three stimulus packages. Besides, the fourth stimulus package was given in the Budget for 2009-10.
About the impact of the delayed monsoon on GDP, Ahulwalia said, "Now it is too early to say about the condition of the monsoon; this is true that so far there is a problem but the impact of this could be ascertained only when we come to know the total deficiency in rainfall; if it is 5-10 percent deficit then there would not be much impact."
When asked about the rising prices of food articles and other commodities, he said even if wholesale price inflation is negative, prices of some commodities have surged.
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