Many financial sector reforms suggested by the Percy Mistry Committee may not figure in Budget 2008-09.
The Reserve Bank of India is in favour of a cautious and gradual approach to financial sector reforms rather than a big-bang approach, as advocated by the Percy Mistry Committee report on making Mumbai an international financial centre.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
DEA officials to push for this at a meeting with FM Jaitley.
What is required from government is intellectual framework.
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