US eco meltdown will not have any impact on India: Montek

New York, Sep 23 (UNI) Prime Minister Manmohan Singh today called for better multilateral surveillance and strengthening of multilateral institutions for proper functioning of market economy.

''For market economy to function properly, better multilateral surveillance is required and for that multilateral insttitutions must be strengnthened,'' the Prime Minister told reporters accompanying him on board the special aircraft from Frankfurt to New York.

Planning Commission Deputy Chairman Montek Singh Ahluwalia, who is part of the Prime Minister's delegation, said the current US financial meltdown would not have any impact on the Indian economy and the Indian banking system is not exposed to any significant toxicity (of such financial crises).

Speaking to reporters, he also said the government was taking a number of steps to bring the inflation to single digit during the current financial year.

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