NEW DELHI, Jan. 19 (Xinhua) -- Indian Commerce Minister Kamal Nath Monday said his government was considering another stimulus package for India's economy, reported Indo Asian News Service.
Addressing the Partnership Summit 2009 organized by the Confederation of Indian Industry (CII) here, the minister said the falling inflation rate, now at a little over 5 percent, would help unveil another package.
More stimulus measures may happen after Jan. 31, Kamal Nath told reporters on the margins of the summit, adding that this will happen after the central bank reviews its monetary policy later this month.
One of our biggest problems was inflation and this has now been addressed. The latest data shows inflation at 5.2 percent. It will come down further, he said.
The government had in December announced a major stimulus package to help the Indian industry overcome the global economic slowdown.
According to the minister, India continued to attract foreign direct investment despite the global slowdown, and that such inflows had doubled to 18.7 billion U.S. dollars during the nine-month period ended on Dec. 31.
He said his government was also paying attention toward infrastructure and keen on getting all the projects executed, especially those under the private-public partnership model.
Kamal Nath also maintained that the India economy would grow by at least 7 percent this fiscal.
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