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Govt to take more steps to protect jobs: Kamal Nath

Govt to take more steps to protect jobs: Kamal Nath
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First Published: Wed, Feb 11 2009. 12 15 AM IST
Updated: Wed, Feb 11 2009. 10 01 AM IST
New Delhi: The government is committed to taking more stimulus measures to prevent job losses, trade minister Kamal Nath said on Tuesday ahead of the interim budget on 16 February.
He added that interest rates should further decline.
Export lobby groups anticipate job losses of 10 million by March-end, as the global recession crimps demand for Indian merchandise.
The government has already announced two stimulus packages since December, which included a 4 percentage point cut in factory gate duties and Rs20,000 crore of extra spending to prop up a slowing economy.
Data on Monday showed the economy is estimated to grow 7.1% in the year to March, down from 9% last year.
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First Published: Wed, Feb 11 2009. 12 15 AM IST