Finance Minister Pranab Mukherjee on Sunday said that India will have to remain cautious, as the global economic slowdown is not yet over.
“We will have to stay alert as India is not alienated from the global situation,” Mr. Mukherjee said at an event in the Hooghly district of West Bengal.
Referring to the recent global forecast of the International Monetary Fund (IMF), he said the evaluation made by the inter-governmental organisation was not so rosy.
According to the IMF, the European recovery will be delayed and the same is true for Canada and North America, he said.
“Since we are not alienated, we will have to stay alert,” he said.
Mr. Mukherjee earlier said that India was the second largest growing economy after China, pointing out that India’s GDP growth would be in the region of 8.5 per cent to 8.75 per cent in 2010.