Eurozone volatility may impact India, but no need to panic: Pranab Mukherjee

Uncertainties in global markets, especially in the euro zone, may have some adverse impact on the Indian market in the form of volatility, but there is no cause for worry, finance minister Pranab Mukherjee said today.

Indian policymakers have already taken appropriate measures and there is no need to panic, he told reporters here.

"Given the uncertainties in the global market, especially in Europe, there may be some adverse impact on the market...(however) there is no need to press the panic button," Mukherjee said.

On the possibility of a fuel price hike, Mukherjee said a decision would be taken shortly after discussing the matter in the cabinet.

"We have received the recommendations of the Kirit Parekh Committee (which has suggested freeing fuel prices from
government control)," Mukherjee said.

On the turf war between regulators Sebi and Irda over unit linked insurance policies (ULIPs), he said the issue would be resolved soon.

"I am aware of the recent issues arising in the life insurance industry, especially concerning