August 12, 2013 9:25 PM

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No need to panic over rising Current Account Deficit: Chidambaram

Finance Minister P Chidambaram on Monday said, there is no need to panic over rising Current Account Deficit, CAD, and asserted that the government will implement solutions to contain it. Addressing a press conference hours after he made a statement in both the Houses of Parliament on measures to check burgeoning CAD, the minister said the solutions would help in reducing foreign exchange volatility and contain CAD. He added that if the government can check CAD, the sentiment about currency market and rupee will significantly improve.

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