PM warns of severe fiscal crisis
Tuesday 4 November 2008

With the global economic slow down taking its toll, Prime Minister Manmohan Singh has warned that India too could feel the impact of severe fiscal crisis.

But despite the global meltdown, he assured that the government would take all necessary monetary and fiscal policy measures to protect growth.

He also maintained that the Indian banking industry is safe and "the government stands behind it and no one should fear for the safety of bank deposits".
--MP