PM reviews economy, fresh steps likely

New Delhi, November 17:: Prime Minister Manmohan Singh is understood to have considered fresh measures with his key Cabinet ministers and the RBI Governor to limit the impact of the global financial crisis on the Indian economy.

The proposals, including fiscal and monetary support to exporters facing demand crunch in the developed world, were considered by a committee chaired by the Prime Minister.

Finance Minister P Chidambaram, Commerce and Industry Minister Kamal Nath, Planning Commission Deputy Chairman Montek Singh Ahluwalia and RBI Governor D Subbarao attended the meeting of the committee, constituted recently to find a way out of the global turmoil for the Indian economy.

Earlier in the day, Nath said the Government is working on a fiscal package for exporters and reviewing the target of USD 200 billion for this fiscal.

"There is a slowdown in the economies in the western world; so there is bound to be slowdown in exports. The Prime Minister's Committee (set up to handle the global crisis) will review this. We are looking at various measures that can help sustain exports," Nath said at the India Economic Summit.

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Stop Corruption by Kalluraya on 2008-11-18 09:27:25.327369+05:30
Dear PM stop corruption in Government that will take care of all poor people in this country - Most of the welfare schemes for the poor never reach the target it is siphoned off by the politicians, Government officials and middlemen.

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Stop corruption by Munnabhai on 2008-11-18 09:19:18.219637+05:30
Dear PM stop corruption in Government that will take care of all poor people in this country - No need to tinker with the economy

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Act Fast by SV Iyer on 2008-11-17 23:44:30.292399+05:30
I entirely agree with Rajaram. Further, stop adding to the missery of the common man. Reducing the price of ATF along and bailing out Airlines alone will not help. Act fast and reduce the price of diesel immediately, which will have a direct impact on the retail prices of all food grains, vegetables and edible oil. Start taking similar measures to protect the interest of common man in the street who form 90% of the population and not just the industrialists, airlines and air travellers, who form a negligible percentage of the population in our country. Now a kind request to the opposition parties...I know you are all busy with the state elections...still you cannot ignore the interests of common man like this and not question the Government in its inactions as spelt above. Act fast or you will all be taken to task in the coming elections...Thanks

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EVILS OF FIIs by DA on 2008-11-17 20:56:18.093904+05:30
EVILS OF FIIs The PM / FM, I am sure they have learnt a lesson. Not to allow the FII too much access to the Indian Economy as all of them have looted this Soneki Chidya. FIIs come into India just to Scoot, Loot and Go. The best thing for the PM / FM is to give a shock treatment. Stop the mauritius, dubai and other tax haven based funds to Invest in Indian Markets. Most of the time it is India's money is round tripping and exiting after destabilizing. Immediatly the FM / PM should increase Infrastructure and Agricultural spends.Reduce and simplify Tax so that our business men do real business and stop laundering / hiding money under the mattress. Corporate Taxes should be at 17 % max and personal ITax should be at 10 % max. Jail / and penalize anyone who does not pay taxes after this tax reductions. See how the money will flow into india, instead of Swiss banks. Indian business men should be aware that Swiss banks can go bust, but not State Bank of India.

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Localise by Rajaram on 2008-11-17 20:13:57.270078+05:30
A kind request to PM, please hold-on till February by the time new president of US will take-over officially, watch the policies set by US and other western countries. In meantime stop the look-west policy build the confidence of Indians by developing infrastructure, tighten internal security and encourage agriculture sector. Sensex is not going to contirbute nations development, please realise them. Many more are there....hope very good economist are in India to give more suggestions to PM and his collegeous. Thanks.

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