Finance Minister Sitharaman Addresses RBI Board on Budget 2024-25 and Global Economic Outlook

Central Board of Directors of Reserve Bank of India Commends Key Thrust Areas Outlined in Interim Union Budget

Date: February 12, 2024

In the 606th meeting of the Central Board of Directors of the Reserve Bank of India (RBI) held in New Delhi today under the Chairmanship of Governor Shri Shaktikanta Das, Finance Minister Smt. Nirmala Sitharaman addressed the board, emphasizing the key thrust areas outlined in the interim Union Budget 2024-25 and discussing expectations from the financial sector.

Accompanied by Hon'ble Minister of State for Finance Shri Pankaj Chaudhary, Hon'ble Minister of State for Finance Dr. Bhagwat Kishanrao Karad, Finance Secretary and Secretary, Department of Expenditure Dr. T.V. Somanathan, Secretary, Department of Investment and Public Asset Management Shri Tuhin Kanta Pandey, and Chief Economic Advisor Dr. V. Anantha Nageswaran, Finance Minister Sitharaman engaged in an interactive session with the Directors of the Central Board.

The Board, including Deputy Governors and other Directors, commended the Finance Minister on the Budget and shared their views. The global and domestic economic situation and outlook were thoroughly reviewed, encompassing challenges posed by geopolitical developments and global financial market volatility.

Deputy Governors Dr. Michael Debabrata Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, Shri Swaminathan J., and other Directors, such as Shri Satish K. Marathe, Shri S. Gurumurthy, Smt. Revathy Iyer, Prof. Sachin Chaturvedi, Shri Venu Srinivasan, Shri Pankaj Ramanbhai Patel, and Dr. Ravindra H. Dholakia, actively participated in the meeting. Dr. Vivek Joshi, Secretary, Department of Financial Services, was also in attendance.

The address and discussions centered around the financial sector's expectations and challenges amid the dynamic global economic landscape, showcasing a collaborative effort between the finance ministry and the RBI to navigate these complexities.