FM Nirmala Sitharaman holds pre-budget meeting with finance ministers of all states


New Delhi: Union
Finance Minister
Sitharaman on Friday held a
all the
states. She is scheduled to present the budget for 2019-20 on July 5. The Economic Survey for the current financial year will be tabled on July 4.

On Wednesday, the
Finance Minister held the 20th
of the Financial Stability and Development Council (FSDC) to review the current global and domestic economic situation and financial stability issues including, inter-alia, those concerning Banking and NBFCs.

The Council was also apprised
of the progress made towards setting-up
of the Financial Data Management Centre (FDMC) to facilitate integrated data aggregation and analysis as also a Computer Emergency Response Team (CERT-Fin) towards strengthening the cybersecurity framework for the financial sector.


The Council also held consultations to obtain inputs/ suggestions
of the financial sector regulators for the Budget.
All the regulators presented their proposals for the Union Budget 2019-20. It als0 took note
of the activities undertaken by the FSDC Sub-Committee Chaired by Governor, RBI and the action taken by Members on the decisions taken in earlier Meetings
of the Council.

Sitharaman had earlier reviewed the state
of the economy and discussed various budget-related suggestions and proposals at a
with financial sector regulators here on Wednesday.

Meeting was also attended by Anurag Thakur, MoS (
Finance &Corporate Affairs), Shaktikanta Das, Governor, Reserve Bank
of India (RBI); Subhash Chandra Garg,
Finance Secretary and Secretary, Department
of Economic Affairs; Rajiv Kumar, Secretary, Department
of Financial Services; Injeti Srinivas, Secretary, Ministry
of Corporate Affairs; Ajay Bhushan Pandey, Revenue Secretary; Dr. Krishnamurthy V. Subramanian, Chief Economic Adviser, Ministry
Finance; Ajay Tyagi, Chairman, Securities and Exchange Board
of India; Subhash Chandra Khuntia, Chairman, Insurance Regulatory and Development Authority
of India(IRDAI); Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board
of India (IBBI); Ravi Mital, Additional Secretary, Department
ofFinancial Services and in charge, Chairperson, Pension Fund Regulatory and Development Authority(PFRDA); and other senior officers
of the Government
of India and the Financial Sector Regulators.

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