RPT-India fiscal stimulus to stay, summer crop seen down
(Repeats story issued late on Tuesday)
* India will maintain fiscal stimulus
* Summer-sown grain seen down 18 pct on year
* Fiscal prudence needed says finmin
* Return to 9 pct growth could take a year
By Tony Munroe and Rajkumar Ray
NEW DELHI, Nov 3 (Reuters) - India will maintain its fiscal stimulus due to uncertainty arising from a poor monsoon and the global outlook, the finance minister said on Tuesday, as data showed the summer crop could post a bigger-than-expected fall.
But Pranab Mukherjee also said there were distinct signs of pick-up in Asia's third-largest economy, with banks told to boost lending as non-farm credit growth remained an area of concern.
"For the present I maintain that the fiscal stimulus will have to continue, to allow its impact to fully run through the economy," Mukherjee told the annual Economic Editors conference. Continued...
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