"We are trying to minimize global economic slowdown with special stimulus in infrastructure sector. We are trying to build up a WHO program for infrastructure. We will ensure that banks lend money. The Indian economy is in a better state than the world economy, but we cannot be complacent," Alhuwalia told reporters here on Sunday, Dec 7. "Special efforts will be taken for the exporters side. We are seeking the Paliament's nod for additional expenditure," he added. He also said that the export duty on iron ore will be eliminated, while steps will be taken to boost the housing sector.
Alhuwalia said efforts are also on to boost banks to lend more money, adding that the import duty on Naphta is to be eliminated.
He confirmed that the stimulus package would be fully utilized.