New Delhi: In order to keep the Indian Economy unscathed from the adverse effect of financial crisis glooming in the US and the European market, the Central Government has started making strategies in that regard.

Union Finance Minister Pranab Mukherjee reviewed the global economic situation with Reserve Bank of India Governor D Subbarao and Chairman of the Prime Minister’s Economic Advisory Council C Rangarajan on Friday, in view of the panic selling in the Indian equities markets in the recent weeks.

It was the first meeting since the western markets started dipping to unexpected levels.
Discussion among the key economic policy makers of the country was focused upon the slow economic growth in the US and debt worries in the European countries, according to an official statement released after the meeting.

Mukherjee said, “Investors have reposed faith in the Indian share markets which is better positioned than that of the US and European countries. This crisis may be beneficial to the Indian markets.”

Rangarajan believed India is required to keep a closer eye on rapid changes in the US and European economy.

(JPN/Bureau)