The government will take measures to check depreciation of rupee, Finance Minister Pranab Mukherjee told this to reporters in Kolkata prior to his departure for Delhi today. On his yesterday's comment on measures to improve the depressed market condition, he said, that he has spoken to the RBI Governor and Finance Secretary on the issue .

He said that certain corrective measures should be taken and the RBI is looking into it. The Finance Minister said that the Government will be able to take certain measures to be announced tomorrow which will improve market condition.

Expressing concern over inflationary pressures he said that there is inflationary pressure on economy, there is depreciation of rupee. These are, no doubt, signs of weakness in Indian economy. He had also noted that when the global economy is in turmoil, then no country can expect that there will be pocket of development and particularly a large economy like India which is the third largest in terms of purchasing power parity cannot remain insulated from external factors .

Prime Minister Dr Manmohan Singh had said yesterday that the rupee is operating on a system which is a market based exchange rate and the government curbs violent fluctuations. He said that effective policy measures would be taken to enable the country to return to the high growth path. Dr Singh said, problems in fiscal management including balance of payment deficit in the current account will be tackled effectively and credibly.

The government is expected to unveil some measures tomorrow to revive the economy.