Speaking to reporters after the Fitch revision in India's outlook, he said that the world continued to repose faith in India.
Elaborating on the initiatives on reforms he stated that the government plans to announce a review of the foreign direct investment limits as also coal pricing and allocation to power plants and gas pricing by the end of June.
The various measures taken by the government since last September have yielded significant results and the government is looking forward to more reforms in the coming days, he said, adding that the government is encouraging every ministry to accelerate spending early.
Elaborating on the recent fall in the rupee, Chidamabaram said that countries with a high current account deficit have seen their currencies depreciating. "There's no reason to panic on the rupee's front. The rupee will find its level and there is no reason to believe that the rupee will continue to depreciate," he said.