MINISTER OF STATE FOR FINANCE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a): The figures are not available. However, fiscal deficit in 2009-10 up to February, 2010
is Rs.3,80,901 crore.
(b) to (e): In order to stimulate the Indian economy, which was affected by the global
economic crises, both monetary and fiscal policy measures were undertaken. While monetary
policy measures were used to achieve financial stability and to stimulate growth, fiscal
policy measures were employed to arrest the slowdown in domestic demand and to revive it. The
fiscal stimulus measures announced by the Government in December 2008, January 2009 and February
2009 were both for the economy as well as sector specific. Some of the key sectors for which
specific measures were put in place were: exports (especially textiles, leather and gems and
jewellery), medium, small and micro enterprises, infrastructure and housing. The effect of the
stimulus measures has got reflected in growth in real GDP at 7.2 per cent in 2009-10 (advance
estimates) compared to growth of 6.7 per cent in 2008-09 (quick estimates). Similarly, the growth
in manufacturing GDP increased from 3.2 per cent in 2008-09 (quick estimates) to 8.9 per cent in
2009-10 (advance estimates). Monitoring and assessment of the macroeconomic situation is an
ongoing process and is used to calibrate the policies of the Government from time to time.
(f) and (g): Given the current pace of economic recovery, the economy is poised to revert to
the 9 per cent growth path. Policies and reform measures to facilitate higher growth are
calibrated based on the emerging economic situation.