Govt to take steps to stimulate economy: FM

Finance Minister P Chidambaram says the Govt will take steps to stimulate the economy and the rupee would strengthen again once capital starts flowing in.

Finance Minister Palaniappan Chidambaram said on Tuesday the government would take steps to stimulate the economy and the rupee would strengthen again once capital starts flowing in.

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"We will take steps to stimulate the domestic economy to compensate for the downside caused by the downturn in the world economy," he told the World Economic Forum's India Summit.

Chidambaram added the country could miss its annual export target of $200 billion for this fiscal year as the slowdown in developed nations trims overseas demand.