Chairman of Godrej group, Adi Godrej thinks that this package would definitely spur growth in exports, housing and infrastructure. "This package was a badly needed one. In my view, the government must keep providing for such stimuli from time to time. With the previous packages, there has certainly been some easing," he said.

Chairman of the Hiranandani group, Niranjan Hiranandani said, "The benefit is not immediate, but lending should take place as confidence comes back to the consumers and in the market."

"The slew of measures will pick up demand and could increase GDP by 2% only from the real estate sector. Given that one million people have lost their jobs in the last three months all over the country, many can come back over the next three months," added Hiranandani.

The government has announced all measures despite of the expected total revenue loss in 2008-09 to be Rs. 40,000 crore with a fiscal deficit of about 6% of the GDP (gross domestic product).