Davos: Fiscal stimulus in India figured prominently in the global meet of world political and business leaders here with an assertion that if the UPA Government comes back to power there will be a "substantial" package in the next Budget.
"The real Budget will be presented by the Government after the elections. But we are working on what that Budget should be. And certainly, if this Government comes back, as I hope it will, then that Budget will include a very substantial fiscal stimulus aimed at infrastructure sector", Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said.
He told a press conference on the sidelines of the World Economic Forum meeting that it was not a political issue and whatever the Government "this is what I would recommend to".
However, speaking at India Brand Equity Foundation function at the WEF, Commerce and Industry Ministry Kamal Nath regretted that liquidity injected by the Government and the Central bank has not reached the cash-starved industry and consumers.
"The liquidity is still not credit. Now the challenge is to make banks lend", he said.
In view of the general elections due sometime in April-May, the Government will come out with an Interim Budget in the brief session in February to carry on the essential financial business for first four months of the next fiscal. The final budget is likely to be presented sometime in July-August.
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