No need to panic, says FM

Indian Finance Minister Pranab Mukherjee announced in Chandigarh on Saturday, that the Dubai debt default would have little impact on the Indian economy

Indian Finance Minister Pranab Mukherjee announced in Chandigarh on Saturday, that the Dubai debt default would have little impact on the Indian economy. "Indian realtors in Dubai are not the key players," Mukherjee said. The global financial world was stunned when the state-run investment company, Dubai World, announced that it would need to restructure its debt, estimated at USD 59 billion, to pre-empt default.u00a0 Mukherjee said that the Indian stock market will recover.

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