Finance Minister Nirmala Sitharaman today chaired the 23rd Meeting of the Financial Stability and Development Council, FSDC through video conference in New Delhi.
The meeting reviewed the major macro-economic developments and Financial Stability issues with special reference to vulnerability related issues.
It noted that the policy measures taken by the Government and the financial sector regulatory authorities have ensured faster economic recovery in India as reflected in the reduced contraction of GDP in second quarter of 2020-21.
The economy has gained momentum and the path to recovery will be faster than what was predicted earlier.
During the meeting, the discussions were held on further measures which may be required to be taken to ensure consistent support of the financial sector for achieving faster real economic growth and achieving the overall macroeconomic targets.
The Council also discussed the budget proposals submitted by RBI and other Regulators.