Click to play videoNew Delhi: The state of the economy is something that the Government is trying to deal with desperately and as soon as possible.
Prime Minister Manmohan Singh says the Government will do whatever Indian industry needs to maintain employment and profitability.
"If airlines close down there will be unemployment. We don't want unemployment to be an acute problem. We will do whatever Indian industry needs in way of Government support to maintain employment and profitability. It is the duty of the Government to help the industry of the country," the Prime Minister said.
"Ours is a strong economy and there might be a slowdown but it won't be a major slowdown," he told reporters on board his special aircraft while returning home from a two-nation visit to the Gulf.
"We are aware that private companies would have to take steps to safeguard their interests. Whatever industry wants we will take a fresh look at. We will do whatever needed to keep the economy sound," Manmohan Singh maintained.
Responding to a question on domestic petrol prices, he ruled out any immediate rate cuts.
"If industry believes this is necessary, we will look into it," the PM said.
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