The exchequer with series of taxation proposals when our mandate for the next fiscal year is extended for a period of less than two months? What would be the credibility if I announce a series of expenditure proposals without locating the resources? Who is going to believe me? What type of confidence can we create in the system? But we have done whatever is possible, and I will come to it a little later. We did not wait. Two stimulus packages were announced by the Prime Minister in December and January. The Reserve Bank changed the REPO interest rate and the reverse REPO interest rate. The REPO interest rate was brought down from 9 per cent to 5.5 per cent; the reverse REPO interest rate was brought down from 6 per cent to 4 per cent; and the Cash Reserve Ration (CRR) was reduced from 9 per cent to 5 per cent. The banks are provided adequate liquidity, and the banks have actually started doing it. The banks can adjust interest rates to meet the demand of the economy. People say that there is no impact of the stimulus packages, which we have provided. I have myself stated in the Budget speech that: Yes, it takes some time. Two stimulus packages have been announced, one in December and another in January. Three months have not yet passed or four months have not yet passed. It takes some time for it to have its impact, but look at the state of health in the steel industry, cement industry etc. Productions have started picking up, and demand is being generated. In my Budget speech, I have myself stated that the enhanced expenditure contained a component of more than Rs. 39,000 crore of Plan expenditure. I have also stated about the elements of the Plan expenditure. Everything directly related to the development of the rural sector.
