Union budget is just a week away from being announced and Anand Sharma, the Union Commerce and industry minister on Friday was quit positive on the view that the stimulus package would not be withdrawn from the labour intensive sectors which include the engineering goods, leather and garments. These sectors are already finding it tough to limp their way back to recovery, any step of withdrawing any benefit would be really harsh on them.

He very smartly turned the question, when asked that had he informed the finance minister Mr. Pranab Mukherjee. He said that the FM is well informed and sensitive enough to not take any such step and knows the challenges of Indian trade. Earlier there were indications that the fiscal stimulus would be partially withdrawn from the point of view of excise duty and service taxes. Mr. Sharma also added that hopes were high in the ministry regarding the consolidation of India's exports and was hopeful of bridging the gap between the global trade in goods and services.

When asked whether China's currency policy was hurting India's reports, he said that China has assured that this issue will get proper attention and will be looked after.