FM Nirmala Sitharaman To Review State Of Economy At FSDC Meeting On Feb 21

This marks the inaugural meeting of the FSDC following the approval of the Rs 47.6 lakh crore Budget for 2024-25, which emphasises capital expenditure, allocating Rs 11.11 lakh crore for this purpose

Union Finance Minister Nirmala Sitharaman

Source : getty

Union Finance Minister Nirmala Sitharaman is set to conduct a review of the economy amidst global challenges during a meeting of the Financial Stability and Development Council (FSDC) on February 21. The 28th meeting of the high-level panel, scheduled to take place in Delhi, will be attended by all financial sector regulators, including RBI Governor Shaktikanta Das, according to a news agency PTI report.

This marks the inaugural meeting of the FSDC following the approval of the Rs 47.6 lakh crore Budget for 2024-25, which emphasises capital expenditure, allocating Rs 11.11 lakh crore for this purpose.

During the meeting, the Finance Minister will assess the present global and domestic economic conditions, as well as financial stability concerns.

FM Sitharaman is expected to emphasise the key priorities outlined in the interim Budget, as well as discuss the roadmap for various forthcoming policies and measures proposed by the government across multiple sectors, PTI quoted sources as saying.

Additionally, the council may also assess the advancement of previously approved measures aimed at furthering the development of the financial sector and achieving inclusive economic growth alongside macroeconomic stability.

The FSDC meeting will also scrutinise the activities conducted by the FSDC sub-committee, led by the RBI governor, and evaluate the actions taken by members regarding the FSDC's past decisions.

In addition to the RBI governor, attendees at the meeting will include Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI); Debasish Panda, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI); Ravi Mital, Chairman of the Insolvency and Bankruptcy Board of India (IBBI); and Deepak Mohanty, the newly appointed Chairman of the Pension Fund Regulatory and Development Authority.

The report indicates that the FSDC meeting will also see the presence of Minister of State for Finance Bhagwat Kishanrao Karad, Finance Secretary T V Somanathan, Economic Affairs Secretary Ajay Seth, Revenue Secretary Sanjay Malhotra, Financial Services Secretary Vivek Joshi, and other senior officials from the finance ministry.