FSDC takes note of economic headwinds, vows to stay alert

New Delhi: The 17th meeting of the Financial Stability and Development Council (FSDC) was held here on Tuesday under the chairmanship of Finance Minister Arun Jaitley. At the meeting, the Council noted that India has macro-economic stability today on the back of improvements in its macro-economic fundamentals, structural reforms with the launch of the GST, action being taken to address the Twin Balance Sheet challenge, extraordinary financial market confidence, reflected in high and rising bond and especially stock valuations and long-term positive consequences of demonetization. The Council also discussed the issues and challenges facing the Indian economy and members agreed on the need to keep constant vigil and be in a state of preparedness of managing any external and internal vulnerabilities. TNS