The union finance minister P Chidambaram advised the investors to have faith in Indian financial system. The government would take all measures to deal with global financial crisis. It would infuse more liquidity in the monetary system, if needed. He also said that the investors should not act in haste and be confident for better situation.

He also pointed out the strong financial health of country. The union government, reserve bank and SEBI are in touch with each other to deal with the situation. The government is confident about 7 to 8 percent growth in the current fiscal despite global financial pressure.

New Delhi, Oct. 10 : Union Finance Minister P Chidambaram on Friday assured the cash-strapped markets that Government will inject more funds into the system within
10-12 days through the supplementary demands for grants.

In an interview to private TV channel, he said, when the supplementary is passed by Parliament, a substantial amount of liquidity will be infused into the market.

Chidambaram said, between now and October 20 or so, if further steps are required to infuse liquidity, the RBI Governor will take those steps.

The finance minister, P Chidambaram said that India’s economy maintains a sound health and the investors need not to afraid. He was addressing the media persons after the meeting of union cabinet on Wednesday. The government would provide more liquidity in the market to ease the financial position of country. Finance minister said the Indian banks maintain a strong balance sheet and deposits of people are safe with Indian banks.
 

The sources in the finance ministry has forecasted the growth rate of 8 percent for the current financial year. The finance minister, P Chidambaram expressed hopes that the country would register growth rate of 9 percent in the financial year 2009-10. He said that the global financial crisis would hardly affect India as India has less exposure in the US market. 

New Delhi, Sept 22 : With prospects of good kharif output, Union Finance Minister P Chidambaram on Monday expressed hope that the ban on export of non-basmati rice, which was imposed as a temporary measure, would be lifted soon.

Chidambaram said this after inaugurating new facility of rice exporting firm Tilda Riceland in Gurgaon in Haryana today.

The government had banned export of non-basmati rice in April as part of initiatives to check rising inflation that touched the 13-year high mark of about 12 per cent.

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.