Finance Minister Pranab Mukherjee said that the government will continue to provide fiscal stimulus to boost domestic demand until robust recovery is seen in the developed economies.
Mr Mukherjee at the India Economic Summit said that "There is need of generating strong domestic demand till robust recovery takes place all over the world, particularly the developed economies.”
The minister was also hopeful that economic growth would touch 9% to 10% towards close of the 11th Five-Year Plan ending 2012.
Mr Mukherjee said that as Europe, North America and Japan account for more than 60% of Indian exports, it would not be easy to make for the loss in exports to these destinations.
India's exports, which account for about 17% of the Gross Domestic Product have been declining for the last one year.
On the other hand Indian Prime Minister Dr Manmohan Singh had recently said that the government would take appropriate steps for winding down the series of stimulus packages next year.
Source : Zeenews