Time for pro-growth policies, says Montek

On the eve of the seventh G20 summit of world leaders, India’s policymakers joined a growing chorus against the focus on austerity at a time of crisis. As the global economy is “extremely weak” and the institutional firepower to stimulate it “exhausted”, only those countries in deep trouble must tighten the belt while others must choose short-term fiscal expansion, according to Planning Commission deputy chairman Montek Singh Ahluwalia.

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