Finance Minister P Chidambaram sought to draw the attention of the business community to the fact that Mr. Robert Zoellick, President, World Bank, has said that “India is in a position to weather the global financial turmoil.”
The Minster, in a statement in New Delhi on Friday, also said: “I also wish to draw attention to the statement of Mr. H. Kuroda, President, ADB that the impact on the financial sector in Asia is limited this time.
Credit is the lifeline of trade, commerce and business and, hence, it is important that credit continues to flow to all sectors of the economy. In consultation with RBI and other regulatory authorities, Government will address the liquidity and other concerns about the economy, he said..
“It is also important to maintain our confidence in the Indian economy. As the Cabinet noted on Wednesday, the fundamentals of our economy are strong and there are many indicators which affirm the sound fundamentals,” Mr Chidambaram added.
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