FM highlights importance of coordination between RBI and government

Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday underscored the importance of coordination between the Reserve Bank of India (RBI) and the government.

"The Finance Minister outlined the thinking behind the Union Budget 2019 and the focus areas of the government. She also highlighted the importance of coordination between the RBI and government," said an official statement.

Sitharaman was holding the 577th meeting of the Central Board of Directors of RBI.

"Complimenting the Finance Minister on the budget, the board members made various suggestions for the consideration of the government," the statement said.

RBI Governor Shaktikanta Das, Revenue Secretary Ajay Bhushan Pandey, Secretary (Investment and Public Asset Management) Atanu Chakraborty and Chief Economic Advisor Dr Krishnamurthy Subramanian were also present in the meeting.

"The board reviewed the current economic situation, global and domestic challenges and various areas of operations of the RBI, as part of its regular proceedings. Among other matters, the Board finalised the 3-year Medium-Term Strategy document, which covered, inter-alia, its Mission and Vision Statement," it added.

Several senior government and RBI officials also attended the meeting.