Time Not Ripe To Lift Stimulus Measures : Says Indian Prime Minister

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India's Prime Minister Manmohan Singh said that the time is not ripe to lift the stimulus measures taken by the government to overcome the impact of global economic crisis, report media.

After the conclusion of twin summits of ASEAN and East Asian leaders, Dr. Singh said the issue of stimulus package was discussed at the ASEAN meet and the global leaders were for a balanced approach. However, Singh refused to comment on queries on interest rates as it is to be announced by the Independent body, the Reserve Bank of India (RBI). RBI is scheduled to announce the quarterly review on October 27. He said that India and ASEAN had agreed to effect a trade agreement in services to broad base the Free Trade Agreement (FTA). The Prime Minister stressed the need of co-ordination in growth policies and keep the real economy strong and sound, the lessons that we learnt from the global economic crisis.

(Market News Provided by RTTNews)