Regulators want Budget to be pro-investment

This is a pre-budget FSDC meeting.

Ahead of the budget,Finance Minister Pranab Mukherjee on Saturday met financial sector regulators,including RBI Governor D Subbarao and Sebi Chairman UK Sinha,to seek their inputs for formulating proposals to boost economy and improve investment climate.

This is a pre-budget FSDC meeting. Finance Minister heard all the regulators. Of course the RBI has responsibility both for macro-economic management and for banking regulation.

The outcome of todays meeting will be reflected in the Budget, Subbarao told reporters here.

Story continues below this ad

Mukherjee will present the Budget proposals for 2012-13 in the Lok Sabha on March 16.

The meeting of Financial Stability and Development Council (FSDC) was also attended by PFRDA Chairman Yogesh Agarwal and secretaries in the finance ministry.

In the meeting,the regulators suggested pro-investment,pro-growth and anti-inflationary measures for the Budget, Agarwal said.

Sources said the meeting discussed the state of Indian economy and Mukherjee heard suggestions of the regulators to boost economy and improve India as an investment destination.

Story continues below this ad

FSDC,headed by Mukherjee,coordinates among regulators and looks at financial sector development,financial literacy,financial inclusion and macro-prudential supervision of the economy,including the functioning of large financial conglomerates.

Finance Minister is expected to announce a host of measures in the Budget to improve investment climate and arrest economic slowdown.