Amid fears of a second dip recession, Finance Minister Pranab Mukherjee has said that "concrete steps" will have to be taken to deal with the situation as there is no ready made formula to address the problems. In an interaction with Indian journalists in Washington on Friday, Mr. Mukherjee said, the crisis has manifested in different forms in different parts of the world. Mr. Mukherjee, is in Washington to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank.He said, the general tendency in the advanced world is that the expected level of recovery has not taken place, though the process of recovery began after the 2008 crisis. But it was fragile, uneven and very poor, not of very high order.The Finance Minister said, in some of the emerging market economies, the recovery was quick. First was of course China, followed by India, Latin America, some of the African countries, including South Africa. But there, the problems are high rate of commodity and fuel prices, inflation pressure, effecting the growth and also destabilising the fiscal consolidation process. Mr. Mukherjee said volatility in stock and commodity prices has led to erratic capital inflows. He added that G-20 finance ministers will discuss the issues at their meeting in Paris in October ahead of the leaders summit at Cannes in November.