{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Bid to boost growth and reform, Finance Minister, analyst and travel operator' data-url='/boclips/videos/5c54bdf6d8eafeecae13803d' data-video-url='/boclips/videos/5c54bdf6d8eafeecae13803d' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBid to boost growth and reform, Finance Minister, analyst and travel operator\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eJune 13, 20131. Wide of Indian Finance Minister P Chidambaram at news conference2. SOUNDBITE (English) P Chidambaram, Indian Finance Minister:\"I don't think we need to panic about what's happening to the rupee. Yes, it does put pressure...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eJune 13, 2013\u003cbr/\u003e1. Wide of Indian Finance Minister P Chidambaram at news conference\u003cbr/\u003e2. SOUNDBITE (English) P Chidambaram, Indian Finance Minister:\u003cbr/\u003e\"I don't think we need to panic about what's happening to the rupee. Yes, it does put pressure on inflation. It does put pressure on the subsidy bill, especially for imported commodities, but I think the rupee will find its level. And I think the authorities will take measures to ensure that there's no volatility.\" \u003cbr/\u003eJune 12, 2013\u003cbr/\u003e3. Close of hundred US dollar bill\u003cbr/\u003e4. Close of money in counting machine\u003cbr/\u003e5. Various of man changing foreign exchange rates on bulletin board\u003cbr/\u003e6. Close of 'STIC Travel' sign\u003cbr/\u003e7. Tilt up of travel guides\u003cbr/\u003e8. Wide of travel agent and customers \u003cbr/\u003e9. Close of computer screen showing plane seating chart\u003cbr/\u003e10. Mid of couple at travel agent desk\u003cbr/\u003e11. SOUNDBITE (English) Subhash Goyal, chairman of STIC Travel Group: \u003cbr/\u003e\"The budget traveller, the student, the middle class family, four people are going, if they have to pay 10 percent more, their cost goes up by another 20-30 percent, 40 percent. So they have to think twice.\"\u003cbr/\u003e12. Wide of petrol station\u003cbr/\u003e13. Wide of car driving into petrol station\u003cbr/\u003e14. Various of fuel pump in car\u003cbr/\u003e15. Set up of Economist Kunal Kumar Kundu \u003cbr/\u003e16. Cutaway of hands typing on computer\u003cbr/\u003e17. Close of computer screen showing charts\u003cbr/\u003e18. SOUNDBITE (English) Kunal Kumar Kundu, economist: \u003cbr/\u003e\"Even when dollar overall was depreciating, Indian currency was still depreciating vis-a-vis dollar. Indian currency depreciated vis-a-vis euro. So which means that there is more to it than one can really think of. The reason I would put that to is the fact that fundamentally Indian economy is on a weaker footing.\" \u003cbr/\u003e19. Mid of station pump\u003cbr/\u003e20. Various of petrol station employee collecting money \u003cbr/\u003eIndia's finance minister said on Thursday that there was \"no need to panic\" about the rapidly depreciating rupee and that steps were being taken to arrest the fall. \u003cbr/\u003eThe Indian rupee touched a record low of 58.98 to the US dollar on Tuesday. \u003cbr/\u003e\"Yes, it does put pressure on inflation. It does put pressure on the subsidy bill, especially for imported commodities, but I think the rupee will find its level. And I think the authorities will take measures to ensure that there is no volatility,\" Finance Minister P Chidambaram told reporters in the Indian capital, New Delhi. \u003cbr/\u003eThe rupee has depreciated by over 3 percent against the US dollar in the last three days and has fallen by more than 5 percent since January 1, the Press Trust of India news agency reported.\u003cbr/\u003eOn Thursday the rate continued to hover above 58 rupees to the US dollar.\u003cbr/\u003eAmong those most affected are Indians travelling abroad in the holiday season, and students going overseas to study.\u003cbr/\u003eTravel companies say they are altering prices of travel packages to match the hotel and sight-seeing prices quoted in dollars.\u003cbr/\u003eBut people are re-thinking their budgets and cutting down on vacation time, according to Subhash Goyal, the chairman of the STIC Travel Group.\u003cbr/\u003e\"The budget traveller, the student, the middle class family, four people are going, if they have to pay 10 percent more, their cost goes up by another 20-30 percent, 40 percent. So they have to think twice,\" said Goyal.\u003cbr/\u003eThe rupee decline is being attributed to a surge in the value of the dollar against several global currencies, as well as India's rising current account deficit, which is estimated to have increased to 5 percent of GDP in 2012-13.\u003cbr/\u003eThe large current account deficit is due to a rising import bill comprising fuel and gold, officials say.\u003cbr/\u003eA major repercussion of the depreciating rupee against the dollar will be an increase in fuel prices, economists warn.\u003cbr/\u003eKunal Kumar Kundu, an independent economist, said the Indian rupee had started to weaken against the dollar and the euro, even before the dollar was appreciating.\u003cbr/\u003e\"The reason I would put that to is the fact that fundamentally Indian economy is on a weaker footing,\" he said.\u003cbr/\u003eThe Indian government says what is happening to the currency in India is not unusual for countries with large current account deficits.\u003cbr/\u003eThe signs of a slowdown in Asia's third-largest economy have been evident with the government forecasting economic growth of 5 percent for the current fiscal year, the lowest in a decade.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator 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