Mumbai, August 31: The Government is committed to financial sector innovations and reforms, a senior Government official said.
“The Government is working with regulatory agencies to bring about financial sector innovations and reforms,” Finance Secretary, Ashok Chawla, said at the launch function of interest rate futures at the National Stock Exchange, today.
Chawla said that growth in the Indian economy was returning.
“Surely, there are signs the economy is moving back to a higher growth path. The move to a higher growth trajectory is well on course,” Chawla said.
The GDP growth in Q1 FY 10 of 6.1 per cent indicate that the economy is back on the higher growth path. Similarly, the Index of Industrial Production (IIP) growth at around five per cent and service sector growth at around eight per cent were also promising, he said.
On the launch of interest rate futures today, the Finance Secretary said that volumes were not the only thing.
The manner in which the market develops is very important, he said. .
—Agencies