HLCC meets to give budget suggestions
Ahead of the budget, high level co-ordination committee on financial markets met under the chairmanship of Reserve Bank Governor to finalise its recommendations.
By PTI |
MUMBAI: Ahead of the budget, high level co-ordination committee on financial markets met under the chairmanship of Reserve Bank Governor to finalise its recommendations.
The meeting reviewed the developments in financial markets, developments in corporate bond market, regulatory issues relating to ULIPs and MFs and investment in security receipts issued by asset reconstruction companies.
There has been crying need for developing the corporate bond market to meet the funding requirements of India Inc. and expectations are the budget may look into measures to hasten the process.
Prior to the high level meeting, Subbarao had a meeting with finance secretary Ashok Chawala to discuss cash management in which Government's borrowing programme for this fiscal figured prominently.
The meeting is understood to have provided valuable inputs to determine the quantum of the borrowing for the current fiscal that is likley to be unveiled in the budget.
The high level meeting made some suggestions for the full budget, a senior finance ministry official said after the three hour-long meeting.
Apart from Subbaro and Chawla, the co-ordination committee meeting was attended by Chief Economic Advisor, Arvind Virmani, Sebi Chairman, C B Bhave and PFRDA Chairman D Swarup.
HLCC is a high level forum for interface among the financial sector regulators.
The meeting reviewed the developments in financial markets, developments in corporate bond market, regulatory issues relating to ULIPs and MFs and investment in security receipts issued by asset reconstruction companies.
There has been crying need for developing the corporate bond market to meet the funding requirements of India Inc. and expectations are the budget may look into measures to hasten the process.
Prior to the high level meeting, Subbarao had a meeting with finance secretary Ashok Chawala to discuss cash management in which Government's borrowing programme for this fiscal figured prominently.
The meeting is understood to have provided valuable inputs to determine the quantum of the borrowing for the current fiscal that is likley to be unveiled in the budget.
The high level meeting made some suggestions for the full budget, a senior finance ministry official said after the three hour-long meeting.
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Apart from Subbaro and Chawla, the co-ordination committee meeting was attended by Chief Economic Advisor, Arvind Virmani, Sebi Chairman, C B Bhave and PFRDA Chairman D Swarup.
HLCC is a high level forum for interface among the financial sector regulators.
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