Government to inject Rs.1 Trillion to deter recession
By
IANS
New Delhi: The Congress party Monday said the government has decided to inject Rs.1 trillion (Rs.100,000 crore) in association with the private sector in the Indian economy to stimulate internal demand to insulate it from the effects of global recession.
"In the next 100 days, the United Progressive Alliance (UPA) government has decided to inject Rs.1 trillion in the Indian economy to stimulate internal demand to keep it insulated from the world recession. This would be done in association with the private sector," Manish Tewari, Congress spokesperson, told reporters.
Tewari said the decision was taken on the advice of UPA chairperson Sonia Gandhi.
"UPA has taken the decision to provide stimulus to the Indian economy on the advice of Sonia-ji. This is to increase productivity, control inflation and increase employment opportunities," he said.
Tewari also said the UPA government has been successful in not letting the world recession impact the Indian economy.
"The UPA government has acted as a wall against the world economic recession and hasn't let it impact the Indian economy. We have been able to manage average growth rate of 8.9 percent during the period of 2004-2009 against 5.8 percent during the National Democratic Alliance regime (1999-2004)," Tewari said.
"In the next 100 days, the United Progressive Alliance (UPA) government has decided to inject Rs.1 trillion in the Indian economy to stimulate internal demand to keep it insulated from the world recession. This would be done in association with the private sector," Manish Tewari, Congress spokesperson, told reporters.
Tewari said the decision was taken on the advice of UPA chairperson Sonia Gandhi.
"UPA has taken the decision to provide stimulus to the Indian economy on the advice of Sonia-ji. This is to increase productivity, control inflation and increase employment opportunities," he said.
Tewari also said the UPA government has been successful in not letting the world recession impact the Indian economy.
"The UPA government has acted as a wall against the world economic recession and hasn't let it impact the Indian economy. We have been able to manage average growth rate of 8.9 percent during the period of 2004-2009 against 5.8 percent during the National Democratic Alliance regime (1999-2004)," Tewari said.
Reader's comments(4)
1: India should inject Rs. 40 trillion. But
inject it in long term projects such as
training and development, ports, airports,
universities, colleges, secondary schools,
elementary schools, adult education,
supportive housing, low-income housing,
roads, highways, irrigation, recreation
centres, historic sites and community
centres. It will spur the economy, create
long-term gains and help India to surge ahead
of many nations.
Posted by: Wesley Rampersad - 08:58 PM Jan 06, ' 09
2: It is just to show the Ground reality is
worst Let us see what will happen during
& after Elections :)
Posted by: Ranjeet - 06:11 AM Jan 06, ' 09
3: Dear Government,
Even if you inject 20 times the amount you did now, my company will still not unfreeze our annual appraisals. They chucked out non-performers because they were non-performers. Now instead of thanking the performers, they have reduced the salaries and appraisals have been frozen till further notice (i'm optimistic that this further notice comes pretty soon).
Thanks you Government. The 1 trillion ruppes are going to be gobbled up in no time. So be prepared with another trillion.
Even if you inject 20 times the amount you did now, my company will still not unfreeze our annual appraisals. They chucked out non-performers because they were non-performers. Now instead of thanking the performers, they have reduced the salaries and appraisals have been frozen till further notice (i'm optimistic that this further notice comes pretty soon).
Thanks you Government. The 1 trillion ruppes are going to be gobbled up in no time. So be prepared with another trillion.
Posted by: thewolf - 02:46 AM Jan 06, ' 09
4: Elections on the way, so every step is being
shown to be taken.. lets see till what extent
it will be fulfilled.
Posted by: rohan - 08:04 PM Jan 05, ' 09
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