Stay alert on global financial crisis: PM to cabinet

September 19th, 2008 - 5:39 pm ICT by IANS  

Manmohan SinghNew Delhi, Sep 19 (IANS) Prime Minister Manmohan Singh Friday asked his cabinet colleagues to remain vigilant on the global financial crisis and ensure that it does not impact the country’s fast-growing economy.Intervening after a presentation by Finance Minister P. Chidambaram, who stressed that the Indian economy was insulated from the crisis in the global financial system, the prime minister said policy makers must not let their guard down.

“The prime minister said we must stay alert on the global financial situation,” Rural Development Minister Raghuvansh Prasad Singh told reporters after a review of the domestic and global economy by the Cabinet Committee on Economic Affairs.

This was the second meeting of the cabinet panel in 24 hours.

Manmohan Singh is also slated to chair a full meeting of the Planning Commission Saturday where the global financial crisis is expected to figure in the discussions, apart from reviewing India’s infrastructure industries, especially energy.

Deputy chiaman of the plan panel Montek Singh Ahluwalia, Agriculture Minister Sharad Pawar, External Affairs Minister Pranab Mukherjee, Finance Minister Chidambaram, Power Minister Sushil Kumar Shinde and Railway Minister Lalu Prasad are among those expected to attend the meeting.

Tags: , , , , , , , , ,

Posted in Business |