4 min read.Updated: 07 Jan 2009, 10:13 PM ISTSumita Kale
Understanding fiscal stimulus
When the first fiscal stimulus package came out last month, it was put down as a bonsai package: Rs30,000 crore was not deemed “good enough" to shake the economy. There were lots of opinions on what was good enough—Assocham’s Sajjan Jindal put the figure at around Rs70,000 crore, Confederation of Indian Industry chief and ICICI Bank chief executive K.V. Kamath said a package worth 2% of the GDP—around Rs1 trillion—would have been a “real booster".
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