Since the global slowdown will continue in 2009-10, Indian economy will need booster package in the next fiscal too, according to the planning commission.

Montek Singh Ahluwalia, deputy chairman, planning commission said, “It is certainly my view that the need for fiscal stimulus will not end this fiscal and will go beyond that. Since global slowdown will continue next year also, fiscal stance that needs to be considered should not be just for this fiscal but also for the next year.”

He also added, “The fiscal deficit will go up due to the stimulus package that the government has announced recently and the government will inform this to parliament at the right time.”

Confidence was expressed by him on lowering the inflation rate and he said that he had already said it will come down and it has come down.

He concluded, “It may come down even further. 7% growth will be a good performance.”