Mukherjee sees easy policy until firm recovery
NEW DELHI (Reuters) - The easy monetary policy is likely to continue until economic recovery is firm, finance minister said on Tuesday, after the Reserve Bank of India (RBI) started the first phase of its exit from easy policy but held rates steady.
"Until the economy is on a firm recovery path it will continue for some more time," Finance Minister Pranab Mukherjee said when asked whether the easy policy would stay in place for some time.
He also said the economy was responding well to the fiscal and monetary steps taken so far and it was likely to expand 6.5-6.75 percent in the fiscal year ending March 2010.
(Reporting by Rajkumar Ray and Rajesh Kumar Singh; Editing by Jarshad Kakkrakandy)
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