PM to head a panel over global financial crisis

The Prime Minister Manmohan Singh will head a special panel of top policy makers to stock of the impact of the global crisis on industry. The Prime Minister is also scheduled to have meeting with top corporate leaders this week, according to media reports. The Reserve Bank and Finance Minister would be the members of the panel. The government and the RBI have been taking action to cap the high impact of the global crisis on Indian economy.

The impact of global crisis was very high on almost sectors including outsourcing services in India. But the impact of the global meltdown may be temporary as study jointly conducted by CII and PriceWaterhouse Coopers, reports that most of the corporates are of the view that although the sub-prime crisis in the US has had a considerable impact on the equity and debt market across the globe, but a slew of measures taken by the RBI will help India weather the storm.