Background and overview of key recommendations 9. Another significant feature of Indian financial sector is that the Government is also equally keen on supporting these efforts. Before the regulators came on the scene, it was the Government which played the catalyst in establishing several capacity building arrangements for the securities and insurance sectors.
As for fiscal policy, adherence of all countries to the framework laid down in the Treaty and the Stability and Growth Pact will support stable and sustainable public finances, and will thereby contribute significantly both to confidence and to favourable financing conditions for the private sector.