Finance minister, P Chidambaram said that the global financial crisis would hardly impact the growth of Indian economy. The country is well prepared to deal with any adverse situation. 

He also said that the government is committed to implement the economic reforms in India. Speaking at the Field Marshal KM Cariappa Memorial Lecture in New delhi, the Finance Minister said that the global financial sector is facing hard times after the bankruptcy of US investment bank Lehman brothers.

The government thinks that even though foreign institutional investors (FIIs) have withdraw over $1 billion so far from India, the economy won’t face any serious threats.

The global economic and financial fluctuations can hardly affect Indian economy. There are speculations in some quarters that the slowdown in US economy can hit the growth story of India. Indian economy is dependent on US economy by and large. Some prestigious US institutions, such as Lehman Brothers and Merrill Lynch are facing economic breakdown.

New Delhi - The collapse of major Wall Street firms is likely to result in a tightening of liquidity, adverse impact on the banking sector and a slowdown for information-technology firms that serve customers in financial sectors, analysts said Wednesday.

The Reserve Bank of India, which had net foreign reserves of 288.8 billion dollars in the week ending September 5, has already taken measures to support the rupee which rose by 60 paisa against the dollar on Wednesday.

The central bank also barred Lehman's India subsidiary from remitting money to its parent company.

New Delhi, Sept 17: Union Minister of Commerce and Industry Kamal Nath today welcomed the multi-facility economic zone created by the Zambia Development Agency for Indian companies to set up manufacturing and services industries in Zambia.

During the bilateral meeting with Felix C. Mutati, Minister for Trade, Commerce and Industry, Zambia, here, Nath said that India has lot to offer for infrastructural development in Zambia, particularly in energy, mining, agriculture, commercial building and road transportation sectors.

The month of December may see the inflation rate falling by 10% which
currently is over 12%. The statement came from Rajya Sabha member and
former head of the Prime Minister’s economic panel C Rangarajan.

He said on the sidelines of a Ficci seminar on financial inclusion in
New Delhi on Monday, “My estimate is that probably by December,
inflation rate may go down to 10%.”

Other than this the man is even hopeful that the continuing trend of
improvement in industrial growth, which commenced form the month of
July will continue for the coming months.

He added, “Inflation last year was moderate towards the end of
December, so base effect will heighten inflation in the current year.”