Finance minister P Chidambaram today called upon automobile manufacturers, realty firms and airlines to reduce prices even as he promised to consider excise duty cut for the sectors smarting under the pressure of the global financial crisis.

Addressing the World Economic Forum meeting in New Delhi, the finance minister promised to examine the possibility of excise duty cut wherever  required.

''Any sector faces problem, I am open to examining suggestions on cut in excise duty rates,'' he said while addressing industrialists at the Indian Economic Summit being organised by the World Economic Forum and the CII.

''Hotels must cut tariffs; airlines must cut prices; real estates must cut rates of apartments and homes they sell; car makers and two-wheeler makers must cut prices,'' Chidambaram added.

He said the Indian economy will continue to record satisfactory growth in the current fiscal and the GDP growth rate will bounce back during the next year.

He also expects capital flows to reverse and the pressure on the rupee to ease over the next two months.

The government has already cut interest rates and taken a series of measures to boost liquidity in the banking system after the credit crisis spilled into its markets in October.

"We will take steps to stimulate the domestic economy to compensate for the downside caused by the downturn in the world economy," Chidambaram told the World Economic Forum's India Summit.

Analysts are skeptical on India's growth outlook as the economy's growth outlook faced downside risks due to the global crisis.

Chidambaram later met Reserve Bank of India governor Duvvuri Subbarao, after which central bank chief said he was watching the economy and would take the appropriate action at the right time.