Injuction to boast the economy- $4b economic stimulus package

To counter the impact of global recession on the Indian economy, the Indian government yesterday (December 7) announced a package which will increase its development expenditure, ease funds availability for infrastructure and provide cheaper credit for housing and labour-intensive exports.
The package include an additional expenditure of US$4.04 billion by the government during the remaining four months of 2008-2009, a cut of 4 per cent Cenvat across the board, two per cent subvention of interest to make credit attractive for textile, leather, handlooms and other labour-intensive sectors, and larger credit guarantee for medium, small and micro enterprises.

The Planning Commission deputy chairman, Montek Singh Ahluwalia, said the package will help to overcome impact of weak global economy on the Indian economy” and help achieve a seven per cent growth rate. This would be helping in the growth of the economy.
What will be the next step of finance minister to maintain the growth of our economy? The fact is that we need more and more FII into the market and liquidity to make the situation better and favorable. This stimulus package is showing immediate result and now at 12.15 8 Dec, 2008 SENSEX 9284.12, Point up +318.92. This package has given some relief in the market and hope this remain the same in coming days.