June 26, 2013 8:53 AM

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Finance Minister terms outflow of $5bn unfortunate

Finance Minister P Chidambaram has termed the sudden outflow of 5 billion US dollars as unfortunate. He, however, said that there should be no room for pessimism, as fundamentals of our economy are intact. Talking to reporters after a function in New Delhi yesterday, Mr. Chidambaram said, among the large emerging economies, India is the fastest growing economy next only to China and the money will flow back into India.He said, investors will find India a safe destination to invest and this temporary phase should pass.The Finance Minister said, the government is moving ahead on the reforms path. He, further, said the government will take a call on revising the FDI caps in different sectors in the second or third week of July. He added, besides reviewing the FDI caps, the government will be taking some key decisions in the coming days.

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