New Delhi, Nov 3 Finance Minister Pranab Mukhejee today ruled out withdrawal of fiscal stimulus packages till the economic recovery is on a strong footing, an assertion that came on a day when stock markets tumbled by nearly 500 points.

"I have stated very clearly, am not thinking of resorting to exit strategy (from stimulus packages) right now," Finance Minister Pranab Mukherjee said at Economic Editors Conference.

Mukherjee said he would take a view on withdrawing from stimulus packages after he is convinced that the economy has come out of the slowdown. "I have not yet seen even the second quarter results. After seeing the results of quarter two and quarter three, I will take a view on it."

Meanwhile, stock markets tanked 491 points to close the day at two-month low of 15,404.94 points on poor earnings by some corporates and sluggish global equities.

- (Agencies)