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Measures to boost economy will be taken: Pranab

Pranab said he could not announce "many radical" measures in the interim Budget presented earlier this week.

Written by Agencies | New Delhi | Published: February 19, 2009 12:32:20 pm

“Constitutional constraints” may have stopped him from unveiling measures to stimulate the economy in the interim Budget for 2009-10 but Finance Minister Pranab Mukherjee asserted that the Government will not hesitate to announce some steps if the need arises.

Replying to supplementaries during Question Hour in Rajya Sabha,he said he could not announce “many radical” measures in the interim Budget presented earlier this week due to Constitutional constraints.

“I had Constitutional constraints to take too many measures involving too much resources because mandate of the Government is coming to an end and new Government will take over after elections,” he said.

Fiscal correction and monetary changes should go side by side so that impact on the economy is maximum,he said adding,his ministry was in consultation with the Reserve Bank of India for future course of action.

“When I reply to the debate (on the Budget next week),I may be in a position to indicate some more detailed information,” he said. “All measures necessary to boost economy will be taken… support which the economy requires will be given.”

On foreign exchange reserves,the Minister said the nation had enough reserves and “we need not be worried about that.”

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