Union Finance Minister P. Chidambaram on Thursday said that the Indian Rupee has overshot its true value. 
Mr. Chidambaram during his speech in the Lok Sabha said that the correction in rupee will take place and a number of measures are being taken to ensure it finds its correct value.
Mr. Chidambaram added that Indian economy is going through period of stress and the growth in first quarter is quite disappointing.
Mr. Chidambaram asserted that "There should be no room for gloom and pessimism and India will bounce back."
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