Exporters 8216;disappointed8217; with stimulus package

Exporters, who had high expectations from the government, said they were disappointed. 8220;This package is timely and will help demand in the next quarter considerably. The repo and reverse repo cuts along with CRR reduction will ease liquidity for banks as well as have a positive effect on the cost of credit,8221; CII Director General Chandrajit Banerjee said.

FICCI Secretary General Amit Mitra said the government and the RBI have addressed a wide range of concerns. The steps 8220;should hopefully give a big boost to the slowing economy,8221; Mitra said, adding that he expects 8220;business confidence would be restored8221;.

FICCI said it8217;s now over to the banks8217; court to 8220;come out and lend to corporates rather than invest money in government securities they have been doing earlier8221;.

However, Assocham said the package is 8220;in the right direction but falls short of expectations8221;. Assocham Secretary General D S Rawat said the chamber expected a relief of Rs 1,00,000 crore.

The Federation of Indian Export Organisations FIEO said exporters are not happy with the steps. 8220;We find no serious consideration of exporters8217; demands except extension of the DEPB scheme,8221; FIEO President A Sakthivel said.