The apex committee headed by prime minister Manmohan Singh is reported to be finalising bailout packages for the export, real estate and infrastructure sectors, the three sectors hit hard by the global financial market meltdown.

The high-level panel has finalised an interest subsidy of 2 per cent and Rs350 crore guarantee for ECGC for the export sector, CNBC-TV18 reports.

The prime minister is also discussing the possibility of rate cuts with the RBI governor to give a fiscal stimulus for the housing sector, the report said.

The high-level committee is also expected to be unveil a Rs50,000 crore credit line to the state-owned India Infrastructure Finance Company Ltd (IIFCL), so that infrastructure projects can access finance at lower cost. The funds will be opened for domestic infrastructure projects.

All fiscal and monetary measures aimed at boosting overall demand in the economy through increased public funding of infrastructure projects and fiscal sops for labour-intensive export sectors affected by the global financial crisis are likely to be announced after the committee meets tomorrow.

''We have made certain proposals, which I hope will be discussed in the apex committee tomorrow. They require consultation with other ministries, including the finance ministry,'' planning commission deputy chairman Montek Singh Ahluwalia was quoted as saying on the sidelines of a function.

The urban development ministry has recommended a reduction in home loan rates, easing of norms for overseas loan and rescheduling some of the existing loans among measures to bail out the real estate industry hit by rollover effects of the global financial market meltdown.

The recommendations follow the ministry's interaction with the real estate sector represented by the Confederation of Real Estate Developers Association of India (CREDAI) and the National Real Estate Development Council (NAREDCO) early this month.

Once the finance ministry clears the packages, they would go for cabinet approval. Once approved the remainder of the current fiscal (2008-09) and the next fiscal (2009-10) will see a major expansion in the flow of resources through this mechanism.