| 
| 
Fiscal stimulus has to be maintained - Mukherjee
India has to continue with its fiscal stimulus and is confident of attaining it medium-term fiscal targets, Finance Minister Pranab Mukherjee said on Tuesday.
He said non-farm credit growth remained an area of concern and said banks have been told to enhance credit growth.
At its quarterly monetary policy review last week, the Reserve Bank of India held key policy rates steady but began withdrawing emergency liquidity support measures which were put in place last year to protect Asia's third-biggest economy from the global downturn.
The Reserve Bank cut its forecast of banks' lending to 18 percent for the fiscal year ending March 2010 from 20 percent and urged banks to step up lending while preserving credit quality.
(Reporting by Rajkumar Ray; Editing by Ranjit Gangadharan and John Mair)
(For more news on Reuters Money visit http://www.reutersmoney.in)
| 
| © Copyright Sify Technologies Ltd, 1998-2009. All rights reserved. India News Portal, Sify.com hosted at SifyHosting India's first Level 3 Internet Data Centre. Site optimized for Internet Explorer 5.5 and above. See Disclaimer | Privacy Policy & Parental Guidance on pornography | careers@sify | About Us | Feedback | Advertise |