Fiscal contraction can cause double-dip recession: PM

http://www.business-standard.com/india/news/fiscal-contraction-can-cause-double-dip-recession-pm/399644/

In his intervention, the Prime Minister said members of the group should refrain from simultaneously withdrawing the economic stimulus despite concerns over the high debt levels in some countries, particularly in the Euro zone.

“Concerns about debt sustainability normally suggest a need for fiscal correction. But circumstances are not normal. The recovery is still fragile and private demand in industrialised countries is likely to remain weak,” he said, while pointing out that unemployment remained high despite a rebound in output.