Finance Minister P. Chidambaram met up with the financial sector regulators to discuss the issue related to the regulatory environment and mooted the possible steps that need to be taken for the Budget.
Speaking to the reporters after the meeting, D Subbarao said, "We gave suggestions for Budget from our respective point of view."
The high-level FSDC (Financial Stability and Development Council), which is chaired by the Finance Minister and comprises heads of RBI, Sebi, IRDA and PFRDA, coordinates the working of regulators and looks at economic and financial issues.
The meeting reviewed the initiatives taken by the RBI and Sebi for strengthening corporate bond market with a view to help India Inc raise long-term funds in a cost-effective manner.
Chidambaram will present the Budget proposals for 2013-14 in the Lok Sabha on February 28.