The best part of the economy was its resilience, of course with a little help in the form of fiscal actions from the government to reverse the slow down, at a time when finance minister P Chidambaram was asked to take charge of the law and order machinery as home minister in the face of Mumbai terror attacks.
Finance Minister Chidambaram said rising prices of primary food articles was worrying him. High food prices the world over and a supply-demand mismatch were behind the high prices, he said, adding this was beyond the influence of the monetary policy.
It would be an epic waste if India lets go off the opportunities, including the end to nuclear isolation, thrown open by the civil nuclear deal with the US, feels Finance Minister P Chidambaram.
"We have changed laws in the US when we negotiated the 123 agreement. Both sides have agreed and it will move ahead," US Ambassador to India David Mulford said. The deal will help India meet its energy needs, he said.
"If this (123 Agreement) was to go through, this will be a very big signal... It will enhance US investments into India. Not only US but also other countries like France, Germany... We are very hopeful that this will go through."
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