Related article .. link .. *India's IMF Contribution is not Aid ... (and tranching)
June 23, 2012
India Plans to Stimulate Economy
The Indian government plans to take steps to boost exports and increase dollar inflows to give a much-need lift to the economy and arrest the slide in the Indian rupee, a senior official from the finance ministry said Saturday.
The government also could cut excise duty on certain products to increase local consumption, the official said. He declined to elaborate on what steps the government could take to boost exports.
India's government is under intense pressure to take steps to curb the slide in the rupee, which fell to a record low of 57.33 to the U.S. dollar Friday.
Indian Finance Minister Pranab Mukherjee on Saturday told reporters in Kolkata that the Indian government will announce measures Monday to improve market conditions, without elaborating, according to a report by the Press Trust of India.
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