The Prime Minister's Economic Advisory Council says that the most appropriate timing for a gradual rollback of the fiscal stimulus package would be the next financial year. The Chairman of the Prime Minister's Economic Advisory Council Dr. C Rangarajan said in New Delhi today that the roll-back of tax incentives will also depend on the way the economy evolves. Dr. Rangarajan said with the expectations of a normal monsoon, the economy is likely to grow by 7-8 per cent in the next fiscal. The GDP grew by 6.1 per cent in the first quarter of 2009-10 and the year may end with 6.5 per cent. On monetary policy, he said if inflationary pressure builds up, the RBI may begin tightening rates even earlier.