The G-20 leaders at the ongoing summit in Mexico should refrain from coming out with 'one-size-fits-all' kind of a remedy for the global economy which is facing difficult times, Assocham President Rajkumar Dhoot said on Tuesday.
"Different economies of the world are grappling with different kinds of problem. One may argue that the governments in most parts of the world have little elbow room to step in with stimulus packages, but then there is a difference in the nature of the issues faced by them," Dhoot said in a statement in New Delhi.
Citing India's example, he said, the government needs to contain non-targeted oil subsidies and curb non-plan wasteful expenditure, but it must not compromise on the plan expenditure.
"In fact, at a time when the private sector seems to be wary of fresh investments, it is the state sector which can give a stimulus to the economy, not necessarily by packages but by front-loading the Plan budget
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