 "Govt, RBI, Sebi watching markets closely: FM Nirmala Sitharaman")
With the markets at record highs amid economic challenges because of the Covid pandemic, Union Finance Minister Nirmala Sitharaman (pictured) said the government, the Reserve Bank of India, and the Securities and Exchange Board of India are regularly monitoring the behaviour of the financial markets.
She said they are taking necessary measures to ensure orderly functioning of the stock markets and maintain macro-financial stability.
On the RBI’s concerns about the disconnect between the financial markets and real sector activity as a potential risk, the minister, while replying to a query in the Rajya Sabha, said the mismatch could be attributed to regulatory measures taken by central banks across the globe to combat the impact of pandemic which has contributed to abundant liquidity in the financial system.
Further on growth, the finance minister said that contraction in GDP during FY21 reflects the unparalleled effect of the pandemic and the containment measures that were taken to control the pandemic.
She said they are taking necessary measures to ensure orderly functioning of the stock markets and maintain macro-financial stability.
On the RBI’s concerns about the disconnect between the financial markets and real sector activity as a potential risk, the minister, while replying to a query in the Rajya Sabha, said the mismatch could be attributed to regulatory measures taken by central banks across the globe to combat the impact of pandemic which has contributed to abundant liquidity in the financial system.
Further on growth, the finance minister said that contraction in GDP during FY21 reflects the unparalleled effect of the pandemic and the containment measures that were taken to control the pandemic.
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