new delhi finance minister nirmala sitharaman reviewed the state of the economy and discussed various budgetrelated suggestions and proposals at a meeting with financial sector regulators here on wednesdaysitharaman will present the first budget of modi 20 government on july 5 against the backdrop of indias economy hitting a fiveyear low growth of 68 per cent in 201819financial sector regulators including rbi governor shaktikanta das sebi chairman ajay tyagi and irdai chief subhash chandra khuntia and top finance ministry officials were present in the meeting of the financial stability and development council fsdc headed by the finance minister an official release saidas discussed in the other fsdc meetings there was a general review of the current state of the economy of the overall macroeconomic situation global developments and there was a discussion on the forthcoming budget and various budgetrelated suggestions and proposals the rbi governor said after the meetingthe regulators and the concerned secretaries of the government were present in the meeting he said the fsdc is the apex body of sectoral regulatorsfinance secretary subhash chandra garg financial services secretary rajiv kumar revenue secretary ajay bhushan pandey and expenditure secretary g c murmu attended the meeting along with ibbi chairman m s sahoo and corporate affairs secretary injeti srinivasasked about the outlook for the economy das said current situation has already been spelt out after the monetary policy committee meeting earlier this monthin the post mpc press conference i have personally elaborated on the risks to global growth on the outlook for india for the current year we have projected 7 per cent we have also flagged the other issues in the mpc resolution and in the statement which i made after the mpc beyond that i have nothing to add he saidconcerns with regard to focus on financial stability have been the underlying theme of all monetary policy decisions he saidit is not explicitly stated should it be explicitly stated the jury is still out and a view has to be taken he saidasked if any stimulus is required to prop up the economy the governor said it is for the government to decide and its the finance ministers prerogative to take a call on such mattersthe rbi governor further said that the bimal jalan committee which is looking into the size of capital reserves that the rbi should hold is likely to submit its final report by juneendthe 20th meeting of the fsdc reviewed the current global and domestic economic situation and financial stability issues including interalia those concerning banking and nbfcs an official statement saidthe council was also apprised of the progress made towards setting up of the financial data management centre fdmc to facilitate integrated data aggregation and analysis as also a computer emergency response team certfin towards strengthening the cybersecurity framework for the financial sector it saidthe council also held consultations to obtain inputs and suggestions of the financial sector regulators for the budget it said adding all the regulators presented their proposals for the