India's Healthy August IIP Due To Stimulus Packages-FICCI

Sponsored Links

India's healthy industrial production in August was due to the fiscal and monetary stimulus package of the government, and without that stimulus, this growth would have been impossible to be achieved, report the media, quoting the Federation of Indian Chambers of Commerce and Industry (FICCI) President Harsh Pati Singhania.

Addressing media persons after FICCI's Executive Council meeting at Bangalore on Monday, he said that any withdrawal of the stimulus would prove disastrous to the economy. He referred to the "dilemma" of the RBI in this regard, but stressed the need for not tightening the monetary policy now. He attributed green shoots to the availability of credit. On rising inflation, FICCI Secretary General Amit Mitra said the problems arose only due to supply-side problems.

(Market News Provided by RTTNews)