India to act speedily to shield economy-finmin

NEW DELHI, Nov 18 (Reuters) - The Indian government is keeping a careful watch on the economy and will act speedily depending on the needs of various sectors, Finance Minister Palaniappan Chidambaram said on Tuesday.

He said the government would look at the problems facing exporters and the infrastructure sector.

Chidambaram also announced a 5 percent import duty on specified iron and steel items, and slapped a 20 percent customs duty on crude soybean oil. (Reporting by Rajkumar Ray and Manoj Kumar; Editing by Mark Williams)