Govt to take more steps to turn around economy, says FM
Press Trust of India: New Delhi, Dec 14 2012, 11:16 IST
the one faced in 2008, Chidambaram said: "The present challenge calls for bold and innovative measures". While in 2008-09 imports had reduced considerably due to fall in international crude oil prices, the situation at present is different as, while exports are declining, imports continue to remain high mainly on account of crude and gold.
He said with rapid globalisation of economy, external sector is becoming more vulnerable.
The Finance Minister also asked Asian G20 member nations and Russia to increase resource base of Asian Development Bank for development of the region.
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