Stimulus packages yielding results: FM

The Govt said the 4 stimulus packages amounting to Rs 2.18 lakh cr have started showing results.

The Government said the four stimulus packages amounting to Rs 2.18 lakh crore have started showing results in terms of recovery in economic activities in many crucial sectors.

Output of major steel producers in the country posted a growth rate of 13 per cent in June this year,cement production increased by 13.1 per cent and the automobile sales rose 17.4 per cent in June,Finance Minister Pranab Mukherjee said in Rajya Sabha while replying to a debate on Budget 2009-10.

“It (stimulus measures) has started yielding results and I must say it is visible but it is slow,” he said.

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The four stimulus packages given by the government,including the sops in the Budget 2009-10,will have an impact of about Rs 2.18 lakh crore.

“In absolute terms,the first three fiscal stimulus amounted to Rs 1.86 lakh crore and the fourth one also will add an additional sum of Rs 35,000-36,000 crore and will almost total to Rs 2.18 lakh crore,” he added.

The Government had announced three stimulus packages in the form of duty cuts to the industry,first in December last year and then in January and February this year.

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Pranab Mukherjee

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