FSDC: Arun Jaitley, Raghuram Rajan to discuss fiscal development, economy tomorrow

NEW DELHI: Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan tomorrow will discuss fiscal development and economic issues when the Financial Stability and Development Council (FSDC) meets.
FSDC, which was set up in December 2010 to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, will hold its 15th meeting tomorrow, official sources said.

Its members include heads of financial sector regulators -- RBI, SEBI, PFRDA, IRDA and FMC along with top Finance Ministry bureaucrats and the Chief Economic Adviser.

It will meet under the chairmanship of Jaitley tomorrow.

Finance Secretary Lavasa, Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chib Duggal, Revenue Secretary Hasmukh Adhia and CEA Arvind Subramanian are expected to attend the meeting.

Besides Rajan, Sebi Chairman U K Sinha, IRDAI Chairman T S Vijayan and PFRDA Chairman Hemant G Contractor are likely to attend the meeting.

An overview of state of the economy is likely to be presented as also the impact of global events are Brexit.

FSDC monitors macro prudential supervision of the economy, including functioning of large financial conglomerates, and addresses inter-regulatory coordination and financial sector development issues.

It also focuses on financial literacy and financial inclusion. The last meeting was held on January 13.