Finance Minister Arun Jaitley will chair pre-Budget consultation meeting with financial sector regulators on Friday and take stock of the economic situation. Fiscal position, external sector environment, financial sector reforms, rising non-performing assets and regulatory issues are likely to figure in the meeting, sources said.
Financial Stability and Development Council (FSDC) is a high-powered body, whose members include RBI Governor, Sebi Chairman, IRDAI Chief and heads of other regulatory bodies. Besides, top Finance Ministry officials would be attending the meeting.
Apart from offering proposals for the Union Budget 2018 -19, the FSDC would also review the measures taken by the Government and the RBI for dealing with the stressed assets and initiation of insolvency action against defaulting promoters. The Govt on Thursday introduced in the lS a bill to make amendments to the Insolvency and Bankruptcy Code (IBC) to make resolution process easier for ailing firms.