Present crises should not be compared to the Great Depression: 2009 difficult - Montek
Dr. Montek Singh Ahluwalia , Deputy Chairman Planning Commission, addressing the Valedictory Session of CII Partnership Summit 2009 said that, the present crises cannot and should not be compared to the 'Great Depression'. The effect of global crises has been far beyond than was expected and unlike the case of great depression, the industrialized countries have now realized the importance of fiscal stimulus. Concerted efforts towards fiscal stimulus are being made around the world. Dr. Ahluwalia warned that the year 2009 would be difficult. He further said that economic revival was the top priority for the Indian government as of date. He was hopeful that towards the end of the year things would look up.