Govt's first priority to insulate India from financial crisis

The UPA government's first priority for the present is to see that India is "insulated" to the maximum possible from the ill-effects of international financial crisis, Prime Minister Manmohan Singh said today.

Singh also said inflation remained a "major worry" and government was keeping its "fingers crossed".

"We have to work out a coherent strategy to protect our interests and we are confident we will be able to do so," Singh said while identifying efforts to ward of threats to India from the financial meltdown as a "first priority right now".

Singh made these remarks when asked what will be his government's priorities over the next four months before the 2009 General Elections due in May.

"We have to worry about inflation while maintaining the momentum of growth process," he said talking to reporters accompanying him on his return home after a 10-day visit to the US and France.

"We have to worry about inflation while maintaining the momentum of growth process," he said though one side-effect of international financial crisis will be probable moderation of inflation.

"Inflation remains a major worry, though one-side effect of international crisis will be probable moderation of inflation, but we keep our fingers crossed," he said.

On the impact of the international financial crisis on India, the Prime Minister said India is not immune from what happens in the outside world. "But we are not vulnerable to the extent that some other countries are vulnerable," he said.