| Font Size |
"I am confident that because of the stimulus that our government has announced, later by (Finance Minister) Pranab Mukherjee, in the next six to seven months the revival of the Indian economy should take place in big way," the Prime Minister said on the occasion of releasing the manifesto of the Congress.
The Government announced stimulus packages in December and January, cutting excise duty by four per cent, increasing public expenditure and giving more leeway to infrastructure finance company IIFCL to raise tax-free bonds.
Later, the Finance Minister announced a further two per cent cut in excise duty and also service tax, among other stimulus measures.
Singh said inflation has declined sharply due to a fall in energy prices, but food prices have not fallen as the Government sought to increase incomes in rural areas.
"Farmers have never been given such increases in terms of procurement prices as in the last five years of the UPA Government," he said.
Discuss this story on expressindia forums
|
|
If you are really a good economist, try to control gold rate..
A rising Gold rate is inndicative of the fact that investors feel that it is more risky to have cash in bank than gold in hand. Loss of faith in banking system by the elites in markets is what is causing the gold prices to shoot. Hence rise in prices of gold indicates that such bureaucratic statements are grossly misplaced.
Because of his recent major operation and the recuperation process, the worthy economist has lost his bearings. This is what happens when you have an expert but sick P.M. and an ignorant President of Congress
The PM has very correctly predicted that the economy will rebound in 7 months. I appreciate his prediction that he needs to go out of the PM's office for the economy to bounce back.
Our leaders in power are saying this for last 3 months!! There is only degradation in the economy and development. Are they simply bluffing us?
Since our PM himself is also partly responsible for introducing laissez-faire economic model, this wish could be understood in its perspective. However, what stock investors worldover do not know while still committing their resources to the risks of capitalism is the fact that some of the very foundation on which a capitalistic system survives - viz., the security of investment in future projects - has been shattered in this phase of market contraction. No matter what the stimulus is, to whom it finally finds its route and in what manner it is pumped into - the sinking titanic can hardly be put afloat again.