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'Govt never talk about announcing fiscal stimulus package'
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SME Times News Bureau | 16 Oct, 2017
There was never any talk by the Indian government about announcing a
fiscal stimulus package for boosting the economy, Finance Minister Arun
Jaitley asserted.
"I have not used that phrase (fiscal stimulus).
I said we will respond to situations and your fraternity translated
the word respond as meaning stimulus," Jaitley told reporters here on
Saturday at the end of his week-long official visit to the US.
"So
you are the ones who should be answering and not me," he said adding
that since it was the Indian media which had mentioned fiscal stimulus,
"you should ask them" about it.
Following a sharp fall in latest
key macro indicators such as the Gross Domestic Product (GDP) and
industrial production, Jaitley, last month, hinted at a package of
measures to boost the economy. But he refused to divulge details, saying
the measures would be unveiled only after consultation with Prime
Minister Narendra Modi.
"We have taken note of all the economic
indicators that are available. This has been a pro-active government on
the reforms agenda. I have had a series of discussions with ministerial
colleagues and various secretaries.
"The government will take
additional measures in the coming days after consulting the Prime
Minister. Whenever the measures are taken, you will come to know of it,"
Jaitley told reporters in New Delhi following a meeting of the union
cabinet.
Jaitley also told reporters here that there is much interest about India in the US and among its investors.
"There
is great interest about India in the US and among its investors. Both
those inside the government and the US companies have shown great
interest in investing in India now," he said."
Jaitley, who led
the Indian delegation to the annual meetings of the International
Monetary Fund and the World Bank, also said that American companies are
investing in India in a big way.
"You have Indians investing in
the US, you have US companies investing in India. And, in November, a
large contingent of US corporates is coming to India to invest," he
said."
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US Dollar
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