LIVE! Chidambaram speaks to hushed Parl: We need open economy, NOT a closed one

August 27, 2013 17:50

Finance minister P Chidambaram speaking on the economic slowdown in the Lok Sabha. He says the government is committed to containing current deficit. "We will contain current account deficit at 70 billion dollars. Fiscal deficit is a challenge and we need reforms. We need an open economy not a closed on," he says. He also blamed global factors for the falling rupee. He said instant results cannot be expected.

For once, opposition MPs are listening to the FM quietly, apart from a few pointers by BJP leader Yashwant Sinha, who was also a finance minister in the NDA government.

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