India nervous on taking monetary stimulus off the table
Srinivas Laxmi
Oct. 21, 2009

Indian economy is floating on hype and false hopes. Indian finance ministers nervousness manifests the real story on the economy and its underlying strength.

Finance Minister Pranab Mukherjee said it is premature to "exit" the fiscal stimulus as the global economy is not showing robust recovery.

"I would like to watch the situation for some more time," he said when asked whether fiscal concessions given to the industry to overcome the global financial crisis that started last year would be withdrawn on inflationary concerns. Till now the global economic recovery is not as robust as we expected it to be. Unless this recovery takes place, the government would not think of an exit policy for the stimulus," he said.

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