Planning Commission Deputy Chairman Montek Singh Ahluwalia today, 9 February 2009, said economy will not be slowing as much as the rest of the world if there is another fiscal stimulus next year. The Central Statistical Organisation (CSO) today, 9 February 2009, pegged India's projected GDP growth for the year ending March 2009 at 7.1%, the slowest in six years and below the previous year's 9%. The CSO said manufacturing output growth was estimated at an annual 4.1%, half of the expansion in 2007/08 while farm output is seen at annual 2.6%, much lower than 4.9% growth last year.
The government has so far announced two stimulus packages including tax cuts and the capital injections for banks.
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