These reforms would have to focus on individuals and corporates and work towards improvement in productivity and efficiency of the economy as a whole. Financial sector reforms, in isolation, will not have a significant impact unless there is improvement in the absorption capacity of the economy. Real sector reforms should precede financial sector reforms for bringing in inclusive and sustainable development of the country.
*  *  *  Ladies and gentlemen, honourable members of the European Parliament, It is a pleasure to have the opportunity to speak at your conference this afternoon. We meet at a time of multiple challenges for our world.