The Finance Minister Mr. Pranab Mukherjee has said that there is no need to panic in the wake of global rating agency, Standard and Poor's lowering India's rating outlook to negative. Reacting to the Outlook by the agency the Finance Minister expressed confidence that the country will overcome the difficulties faced by it and several bills regarding economic reforms will come up for consideration of Parliament in the current session. He however said some bills may be passed in the monsoon session.The lowering of outlook from stable to negative is expected to make external commercial borrowing expensive for Indian companies. It may also have implications for the capital market.