Finance Minister Pranab Mukherjee has said that economic slowdown is a matter of concern but there is no need for panic, and reverting to high growth path is achievable as India's fundamentals are strong.

In an official statement said, the Mr. Mukherjee said, he is fully confident that the objective of taking the economy back to the path of higher growth, maintaining moderate rate of inflation, narrowing down the gap of current account deficit and restricting the fiscal deficit to 2 per cent of GDP are very much achievable.

At a time when the country is facing various challenges in the wake of continued global uncertainty particularly the eurozone crisis, Mukherjee said he has full faith in the resilience of the Indian economy to overcome successfully such challenges.