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Will the govt's stimulus package work to boost the economy?

Created by : Murugesan S, Sr. Associate, Kotak Mahindra  | 12 05 2008 11:45:56 +0000
Industry : Asset ManagementFunctional Area : India(Markets)
Keywords : Work Economy Financial Crisis Credit Crunch Economic Downturn Global Crisis Boost Bailout Stimulus Package GOVT'S
Activity:  570 views;  last activity : 07 06 2010 20:18:09 +0000

Bailouts, layoffs and cost cutting have become the order of the day in the present scenario of a global financial crisis and an economic slowdown. India too is not immune to it and would be coming out with a bailout package. Govt is finalizing an economic stimulus package of Rs. 75000 crore, do you think this will help or other measures should be taken....

Would like to hear from you guys.....

Thanks !!! 

  
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I agree with the view that the stimulus package will work for the ecconomy. Inflation has come down to 6.84 % and it is a matter of one or two months for the inflation to touch the desired level of below 5 %. Another round of interest rate cuts is on the cards to stimulate growth especially in the last and crucial quarter of the current financial year. Rupee has shown signs of recovery. Home loan industry has got  a boost with the recent package of lower interest rates along with concessions in margin and service charges etc. Above all, a second stimulus package to accelerate growth in vital industries is also on the cards. The positive growth signs are very visible and the stimulus packages will surely act as catalysts for growth.
By veguru vijayakumar babu, Head/VP/GM-Finance/Audit, Sujana Group Of Companies  12 20 2008 06:39:42 +0000
 
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There is a need to understand why such stimulus package are required. Credit ,production , demand were working propotionately before economic slowdown leading to inflation .Inflation moving northward requires central bank intervention leading to high cost of credit ,less expansion,less demand .Stimulus packagaes are meant only for sectors where demand has gone down invariably and for companies having high debt debt burden.No such packages can drive the growth of overall economy.It is like giving oxgen to ailed sectors.India need to address its problem of high fiscal deficit which would further increase manifold with such packages and subsidies.Cost ,demand and pricing mechanism needs to be streanghtn to get desired GDP growth of 7% atleast.
By sandeep mehta, Relationship Manager, Idbi Bank Ltd  12 09 2008 07:04:30 +0000
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It will improve Gaurav, the government on Sunday has actually unveiled a Rs 30,700-crore fiscal stimulus package which will definitely stimulate investments and demand, government-owned banks are also to announce separate packages for home loans up to Rs 5 lakh and loans between Rs 5 lakh & Rs 20 lakh, we will have cheaper home loans which will boost real estate industry, which would in turn drive demand for cement & steel. This will definitely improve condition.....
By Rajat Agarwal, Associate, ING  | 12 08 2008 08:10:30 +0000
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India needs a big push in this situation & govt is doing right thing by coming out with such a package. In India there is a desperate demand for more infrastructure, roads etc & putting money into infrastructure will get the economy moving......
By Murugesan S, Sr. Associate, Kotak Mahindra  | 12 05 2008 11:49:28 +0000
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Its not in the hand of Indian Government only. Our economy will never grow in isolation. If UK, USA and other countries are bleeding, eventhough our government offers such lucrative stimulas package, Things will not improve significantly.
By Kaushal , Sales/BD Manager, Kotak Life Insurance  | 02 15 2009 13:42:26 +0000
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its true that we need to understand wy such stinulus packagees are required?

i personally dont think that these packages will help any boost in economy, our goverment is exacltly doing what us govt did when their major companies bow down and they have to support them. but instead of launching these packages indian govt need to think deeply that what they are supporting, whatever the govt is doing right now is to support liquidity in the market and they think thats the way to boost economy but my opinion here is where is the demand? and can u increase demand by bailout packages? the inflation we are talking about is that it has come down but in what espect? inflation is still there its just the fact that we took minimal things to decides inflation..


By manoj prasad, CONCULTANT- Review & Management, PRATHAM  | 01 19 2009 11:50:40 +0000
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Those factors might be there Rajat but they are marginal in effect where we need a complete turnaround. I am also skeptical about the government's ability to boost spending in the remaining months, given its preoccupation with elections. The government might implement additional measures in the coming weeks but my concerns is that from the time of the announcement of the next election date and the formation of the new government, major fiscal policy change will not be possible under the Election Commission rules. This period could be as long as 3-4 months and could rule out any significant counter-cyclical measure in the first quarter of 2009.....
By Gaurav Bhattacharya, Sr. Associate, HDFC Bank  | 12 08 2008 10:23:40 +0000
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When the bankers are unwilling to provide loans to infrastructure, real estate and exporters it shows that the bankers believe these industries would not possess the capability to return these loans. This perhaps may be true due the downturn in housing as well market for exporting companies. Therefore the Government can take care of the supply side by giving subsidies and sops, however demand side is market driven and unless that improves, the situation still looks gloom....
By Gaurav Bhattacharya, Sr. Associate, HDFC Bank  | 12 05 2008 12:33:38 +0000
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Murugesan, still for the private banks liquidity is a concern and they can't reduce lending rates which makes life difficult for the average home loan seeker or car buyer. There is still no relief for them & RBI should do more to ease up things......
By Satyanarayana Naidu, Sr. Associate, IDBI Bank  | 12 05 2008 11:59:43 +0000
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