Govt will not take any captial control action: Chidambaram

New Delhi: Finance Minister P Chidambaram on Thursday said there was no need to panic and assured Indian investors that the Indian economy and currency is doing better than many countries across the world.While admitting
govt will not take any captial control action...
India TV Business Desk August 22, 2013 18:10 IST
New Delhi: Finance Minister P Chidambaram on Thursday said there was no need to panic and assured Indian investors that the Indian economy and currency is doing better than many countries across the world.



While admitting that the Indian currency has overshoot its reasonable limits, he said the Reserve Bank of India and the government have no intention of introducing capital controls.

He said that the Indian currency was not the only one facing volatility.

Chidambaram also said unless they violate any law there is no necessity for any action against speculators.

The Finance Minister said that there was no need to be pessimistic as FDI inflows have been up and debts are declining.
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