June 16, 2012 4:09 PM

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Pranab expresses concern over impact of Eurozone crisis on India<br/>

Union Finance Minister Pranab Mukherjee today expressed concern over impact of a deepening Eurozone crisis on India. He was speaking at an ASSOCHAM conference in Mumbai today. In his first public address after being nominated as the UPA candidate for the Presidential elections due next month, the Finance Minister said that he is concerned about the Eurozone crisis and the depreciating rupee as nearly 30 per cent of our exports are to Europe. However, Mukherjee said that exporters can take advantage of the depreciating rupee. On fears global rating agencies&apos; warning, he said that as Finance Minister he cannot dismiss the economic concerns put forth by credit rating agencies. The Finance Minister also said that slow growth, high fiscal and current account deficits, inflation and negative sentiments are other factors of concern. He said that the government is taking fiscal measures to ensure that the central finances remain strong in the present difficult times and expects the RBI to take monetary steps keeping in mind the challenges before the economy.The central bank is slated to announce its mid-term monetary policy tomorrow. The Finance Minister also expressed concerns about Greek elections due tomorrow.

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