Finance minister Arun Jaitley on Saturday underlined the need to reduce the cost of doing business in India to boost investment and make the economic climate more conducive to for companies.
Jaitley met India’s top economic regulators seeking inputs on the macro economy and developments in the financial sector as preparations for budget 2014-15 — likely to presented in the first week of July — entered the final leg.
“There is the need to improve business climate and reduce the cost of doing business as important means for revival of the investment cycle,” Jaitley said after a meeting in Mumbai with financial sector regulators including RBI governor Raghuram Rajan and SEBI chairman UK Sinha under the Financial Stability and Development Council (FSDC).
The high-level body deals with issues concerning financial stability, financial sector development, financial literacy, financial inclusion and the functioning of large financial conglomerates.
IRDA chairman TS Vijayan, Forward Markets Commission head Ramesh Abhishek and PFRDA’s officiating chairman RV Verma, besides senior ministry officials were also present.
“There were general discussions... and also on any suggestions any regulator has with regard to the forthcoming policies of the government,” he added.
(With PTI inputs)