Govt may take a call on exiting stimulus after Q2, Q3 growth

Govt may take a call on exiting stimulus after Q2, Q3 growth
PTI
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First Published: Fri, Oct 30 2009. 06 02 PM IST
Updated: Fri, Oct 30 2009. 06 02 PM IST
New Delhi: The government on Friday said it may take a call on exiting from fiscal stimulus after reviewing the economic growth in the second and third quarters of this financial year.
Finance minister Pranab Mukherjee would also share his perception on exit strategy at the G-20 Finance Ministers’ meeting in Scotland, starting from 6 November.
“So far we are concerned, I think I shall have to watch situation for the (economic) progress in the second quarter and third quarter. Perhaps, I may be in a position, I am not asserting that position, to articulate it (exit strategy), sometimes when the d-day will come,” Mukherjee said at the Hindustan Times Leadership Summit here.
“Next week, I am going to share my perception what should be the exit policy in G-20 Finance Ministers meeting in Scotland, just next Saturday,” he said.
He said instead of blanket exit strategy for all nations, each country should devise their own plans depending on their economic situation.
“We are strongly advocating that at different points of time, the crisis was held by the country concerned, and they know where the shoe pinches, therefore instead of having any blanket exit strategy all over the world, let the states make an assessment in the context of the situation prevailing at that point of time and take appropriate decision,” he said.
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First Published: Fri, Oct 30 2009. 06 02 PM IST