Govt to act speedily to shield economy - Chidambaram

NEW DELHI (Reuters) - The 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.