No plans for selective stimulus package, says Indian finance ministry official

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 per cent in 2012/13. Growth was just 4.4 per cent in the first quarter of 2013/14.

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