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Journalism of Courage
Asserting that fundamentals of Indian economy are still strong despite global financial crisis, Finance Minister P Chidambaram on Wednesday admitted that the system faces some liquidity problem which will be addressed.
“There is liquidity problem. But, we will address the liquidity issue. (RBI) Governor is already on record, if necessary he will take further measures to infuse liquidity,” Chidambaram said in New Delhi.
He said the Government is fully alive to the need for greater liquidity in the Indian market.
“Of course, liquidity will be provided. Everybody in the world is doing it. We are not affected to the same extent (by global financial crisis), but to the extent there is shortage of liquidity in the Indian market, we will provide liquidity,” he said.
He, however, said every Indian must be confident that the economy is still a growing economy.
“My firm opinion is that fundamentals of Indian economy are still strong. Economy is still humming with activity and it is growing,” Chidambaram said.
