Third stimulus package very soon: Govt

He,however,did not divulge any details about the proposed package.

The Minister said that the current year would be a difficult year,but the country would still clock a respectable 6.5-7 per cent growth.

The recent monetary and fiscal measures initiated by the Reserve Bank and Finance Ministry would take around six months to make their impact felt,he said.

Comparing India8217;s economy with China,he said that India8217;s economic growth momentum has been on the back of domestic consumption while that of its neighbour has been export-driven.

8220;Domestic consumption is not shaken. When the world starts getting out of the morass it is in right now,India will be in the front league,8221; Kumar said,adding that 8220;we have to be realistic and accept that we will not grow at a rate of 8.5 or 9 per cent.8221;

8220;The rest,except China will show negative growth. Despite the turbulence,India has been able to insulate itself,8221; Kumar said.