February 3, 2010 4:54 PM

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Rolling back of stimulus package only after declaration of fresh GDP

Government today said that it will decide about rolling back stimulus packages only after release of Economic growth numbers by May. Talking to reporters in New Delhi, The secretary, Ministry of Statistics and programme implementation, Mr. Pranav Sen said that these numbers will provide actual picture to the government to take a step in this regard.Mr. Sen said however, strong industrial growth numbers do indicate that the government may start thinking to withdraw these measures. The secretary said that it is up to Finance Minister Pranab Mukherjee to take a call in the upcoming Budget on stimulus measures. Industrial growth for November stood at 11.7 per cent against just 2.5 per cent a year back. For the first eight months, industrial production grew by 7.6 per cent against 4.1 per cent a year ago.The Gross Domestic Product is estimated to rise by 15.1 per cent during the fiscal 2008 – 2009 against previous financial year. GDP registered 6.7 percent growth during 2007 – 2008. The per capita income also registered an increase of five per cent during that period.

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