The unprecedented fluctuation in the currency and equity market has impelled the Union Government to develop an early-warning system. A meeting was held recently, to discuss the structural issues about forming a Crisis Management Team. The meeting was chaired by Mr. R. Gopalan, Secretary in the department of economic affairs.

The committee will keep a track on the economic situation. It will keep the Government prepared in situation of crises and to tackle in best possible manner. The committee will comprise of five-to-six members.

"The team will see, analyse and suggest measures to tackle any development which can stress the financial system," said a senior finance ministry official.