"We have not taken any decision on excise concessions for certain sectors, but are looking at a package of measures for specific sectors and the economy," Sinha told reporters at the Global Indian Entrepreneurs Conferences here on Thursday. The finance minister also said that the centre might disinvest in more than four state-run units in the current financial year itself. While divestment of Concor was on, GAIL and IOC would be taken up shortly, Sinha said. The other PSU identified for disinvestment is VSNL. "Besides these", he said, "many more are likely to be taken up during the fiscal."

On the continued poorindustrial output, which recorded a paltry 1.4 per cent growth in September compared to last year, he hoped "performance in October would be better than September".

Pointing out that he had never claimed that the economy will revive in September, Sinha said that what he meant was that the revival would take place after September.

The finance minister further said the growth target for the Ninth Plan was scaled down from 7 per cent to 6.5 per cent owing to poor performance in the first two years of the plan period.

Earlier chairing the session on "Indian diaspora and promotion of investment flows", Sinha said the government was committed to take all possible measures to make the partnership between the country and overseas Indians fruitful.

Listing out the policy initiatives taken to attract non-resident Indian investments into the country, he said the government was committed to increase the coverage of automatic-approval route and reduce its own role in foreign investment.

There was need forstreamlining procedures with greater emphasis on implementation, he stressed. In infrastructure and core sectors, Sinha said the government was opening up more sectors like coal and lignite for foreign investment.

In his reference to multilateral agencies, Sinha said they have started to speak in a language which was very similar to India's after the country managed to isolate itself from the currency turmoil in south-east Asia.

The finance minister said that uncertainty had loomed large when the country had carried out nuclear tests at Pokharan. Many countries had decided to impose sanctions on Delhi in wake of the tests.

However, Sinha said, to overcome the economic fallout, the government did not approach the International Monetary Fund. On the other hand, it decided to come out with the Resurgent India Bonds, appealing NRIs to subscribe to it. The issue was a resounding success at a time when other countries had started talking in an unfriendly tone, Sinha said.