India is committed to taking more stimulus measures to prevent job losses,Trade Minister Kamal Nath said on Tuesday ahead of the interim budget on Feb. 16. He added that interest rates should further decline.
Export lobby groups anticipate job losses of 10 million by March-end,as the global recession crimps demand for Indian merchandise.
The Indian government has already announced two stimulus packages since December,which included a 4 percentage point cut in factory gate duties and 200 billion rupees of extra spending to prop up a slowing economy.
Data on Monday showed the economy is estimated to grow 7.1 per cent in the year to March,down from 9 per cent last year.