New Delhi: According to Newswire18, the second stimulus package to be announced next week by the Indian Government will introduce a slew of monetary and fiscal measures to boost the Indian economy.
The Prime Minister's Economic Panel Chief, Suresh Tendulkar said that some of these would include cutting repo and reverse repo rate by 100 basis points each. It would also include further liberalising the External Commercial Borrowing (ECB) norms.
ECB policies for core and housing sectors are also likely to be reviewed. The PM's Economic Panel head also said that rate cuts by RBI may accompany by a fiscal package.
Tendulkar also said that inflation will be down to 4 to 5 per cent by the end of March 2009 and that there was no objective basis for pessimism as far as the Indian economy was concerned.
He said that the market will force realty developers to cut prices and that there was Need to provide easy credit to realty companies.
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