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There's no room to panic, says FM
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October 13, 2008 10:30 IST

Finance Minister P Chidambaram once again reiterated that India's economic fundamentals were strong and there was no room to act in haste or give into panic.

As the Asian markets opened higher on Monday, the FM said, "I expect the (Indian) markets to take cues from positive developments in three East Asian and Australian bourses."

He further stated that the government will take further measures to infuse more liquidity in the economy, adding that the details will be announced shortly.

Capital market, money market and to an extent the forex market are bearing the brunt of the current financial problem, the FM added.

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