Centre may have limited options to tackle lower trade and investment inflows following US debt rating downgrade and euro zone crisis. But, finance minister Pranab Mukherjee will shortly meet financial markets regulators to “evaluate the impact of international challenges” and devise medium term strategy to protect “offensive and defensive” Indian interests in foreign assets. Revaluing foreign assets following dollar and gold appreciation, continuation in dollar denominated investments and stock-taking on proposed equity sale of PSU shares in a volatile market are some of the issues that may figure prominently at the meeting between markets regulators and finance minister. RBI Governor D Subbarao, Securities and Exchange Board of India (Sebi) Chairman UK Sinha and Insurance regulator Irda chairman J Harinarayan are part of this high-level coordination committee on financial markets. This committee is now part of financial stability and development council chaired by Mukherjee.
Financial Chronicle
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