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Mukherjee holds pre-budget meeting with financial regulators
Saturday February 18, 2012 07:36:17 PM,
IANS
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Pranab to present 2012-13 budget on March 16
Finance
Minister Pranab Mukherjee will present the budget for 2012-13 on
March 16, the government announced Tuesday.
Railway Minister Dinesh Trivedi will present his budget March 14
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New Delhi:
Finance Minister Pranab Mukherjee Saturday held a meeting with the
financial sector regulators and discussed their proposals that
could be incorporated in the federal budget to improve the
investment climate in the country.
The meeting here was attended by Reserve Bank of India (RBI)
Governor D. Subbarao, Security and Exchange Board of India (SEBI)
chairman U.K. Sinha, Pension Fund Regulatory and Development
Authority (PFRDA) chairman Yogesh Agarwal, Insurance Regulatory
and Development Authority (IRDA) chairman J. Harinarayan -- all
members of the Financial Stability and Development Council (FSDC).
Secretaries in the finance ministry also attended the meeting.
The FSDC, set up in 2011, is an umbrella organisation of all
financial sector regulators in the country and is headed by the
finance minister. It frames policy for the financial sector and
keeps an eye on the macro economic health of the country.
"Finance minister heard all the regulators. The outcome of today's
meeting will be reflected in the budget. RBI has responsibility
both for macro-economic management and for banking regulation,"
Governor Subbarao told reporters after the meeting.
The PFRDA chairman said that regulators presented their proposals
for boosting economic growth and improving the image of India as
an investment destination.
"The regulators suggested pro-investment, pro-growth and
anti-inflationary measures for the budget," said Yogesh Agarwal.
Mukherjee will present the budget for the 2012-13 fiscal on March
16.
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