Immediately after meeting RBI Governor Y V Reddy, who also met Prime Minister Manmohan Singh, Chidambaram said: "We should not give room for panic. We should take steps to quell inflationary expectations...That is preciesly the course that the government has adopted in the past and will adopt in future too."
In a statement circulated to the media by the Finance Secretary D Subbarao, Chidmabaram said he had met Prime Minister Manmohan Singh last night even as the political parties, including the Left allies, pilloried for what they called failure in management of prices.