No plans for selective stimulus package - Mayaram

Reuters
India's Economic Affairs Secretary Mayaram attends an interview with Reuters at a hotel during his visit for the G20 meeting in Mexico City
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India's Economic Affairs Secretary Arvind Mayaram attends an interview with Reuters at a hotel during his visit for the G20 meeting in Mexico City November 4, 2012. REUTERS/Edgard Garrido/Files

NEW DELHI (Reuters) - India has no plan to offer a special window to lend funds at lower interest rates to companies in some sectors, senior finance ministry official Arvind Mayaram said on Monday.

"I have not heard of any such plan," the official said in response to a question about a story in an Indian newspaper.

On Monday, the Economic Times reported that the finance ministry and the central bank were considering a selective stimulus plan that involved a debt-buying programme for eligible companies.

India's economic growth hit a decade low of 5 percent in 2012/13. Growth was just 4.4 percent in the first quarter of 2013/14.

(Reporting by Manoj Kumar; Writing by Shyamantha Asokan; Editing by Frank Jack Daniel)

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