Macroeconomic weakness much reduced: Financial stability Council
Macroeconomic vulnerabilities have significantly reduced on the back of policy initiatives taken by the government, Finance Minister Arun Jaitley and heads of financial sector regulators observed on Friday. Financial Stability and Development Council (FSDC) comprising regulatory bodies like the Reserve Bank and Sebi took stock of the prevailing domestic and global economic situation here at a meeting headed by Jaitley.
It was observed that “<g data-gr-id="14">macro-economic</g> vulnerabilities have been reduced significantly in recent months on the back of various policy initiative taken by the government, improvement in growth, declining inflation, recovery in external sector and political stability,” said the Finance Ministry in a statement. FSDC was also apprised of the progress made by the task force set up for creating of Resolution Corporation, Public Debt Management Agency, Financial Data Management Centre and Financial Sector Appellate Tribunal. During the meeting, Jaitley also launched <g data-gr-id="11">a MIS</g> portal for monitoring <g data-gr-id="12">progress</g> of regulators on <g data-gr-id="13">implementation</g> of the non-legislative recommendations of Financial Sector Legislative Reforms Commission (FSLRC).