Govt to announce steps on Monday to improve economy: Pranab

Calcutta, June 23 (PTI): The Finance Minister Pranab Mukherjee on Saturday said the government is set to announce certain measures on Monday to improve market conditions in consultations with the Reserve Bank of India. He said the Department of Economic Affairs had consulted with RBI Governor D Subbarao about the measures to be taken in this regard. "We will be able to take certain measures to be announced on Monday which will improve the market condition," Pranab Mukherjee said. "GDP is at 6.5. There is inflationary pressure, there is depreciation of rupee. There are no doubt signs of weakness in Indian economy," the minister said, adding, "I am concerned but not depressed". "When the world is in turmoil, then a large economy like India cannot stay immune", Mukherjee told reporters. Basic fundamentals are strong in Indian economy, the Minister said, adding that the period from January to June 2012 saw an inflow of Foreign Institutional Investment (FII) money to the tune of $ 8 billion. The FII inflow for the corresponding period in 2011 was negative, he said. "This year FDI stood at $ 46 billion to $ 48 billion," Mukherjee said, adding that this was possibly his last visit to the city as Finance Minister.