Finance Minister Nirmala Sitharaman is slated to evaluate the economic landscape amidst global challenges during a meeting of the Financial Stability and Development Council (FSDC) on February 21. Scheduled to convene in Delhi, the 28th session of this high-level panel will witness the participation of all financial sector regulators, including RBI Governor Shaktikanta Das, as per sources familiar with the matter. This gathering marks the first FSDC meeting subsequent to the passage of the Rs 47.6 lakh crore Budget for 2024-25, which emphasizes capital expenditure amounting to Rs 11.11 lakh crore.
During the meeting, Sitharaman will scrutinize both the global and domestic economic conditions, as well as financial stability concerns. Sources suggest that Sitharaman is expected to emphasize key priorities outlined in the interim Budget, along with discussing the trajectory of future policies and proposed government measures across various sectors.
Additionally, the council is poised to evaluate the progress of previously sanctioned measures aimed at furthering the development of the financial sector and achieving inclusive economic growth while maintaining macroeconomic stability.
Furthermore, the FSDC meeting will encompass a review of activities undertaken by the FSDC sub-committee, chaired by the RBI governor, and the subsequent actions taken by members regarding past decisions of the FSDC.
Alongside the RBI governor, attendees 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, newly appointed Chairman of the Pension Fund Regulatory and Development Authority. Notably, the FSDC meeting will also be graced by the presence of Minister of State for Finance Bhagwat Kishanrao Karad, along with several top officials from the finance ministry.
