Even though the second stimulus is out, it seems it will not help the gross domestic product greatly. The second stimulus has proven to be just a confidence booster. Experts say this stimulus would merely affect the gross domestic product of the nation. They also add that the gross domestic product may further slowdown to 6.7% in this fiscal year 2009 and may be even to around 5.8% in the fiscal year 2010. This is expected due to the high fiscal deficit which occurred due to the economic slowdown last year. The govt. is also not to be blamed as they have taken all possible measures given the fiscal constraints and with banks left with very little.
Monday, September 14, 2009
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