Finance Minister Arun Jaitley chaired a meeting with financial sector regulators during which they gave proposals for the Union Budget to be presented on February 1. The Financial Stability and Development Council (FSDC) is a high-powered body, whose members include RBI Governor Urjit Patel, Sebi Chairman Ajay Tyagi, IRDAI Chief T S Vijayan, PFRDA Chairman Hemant Contractor and IBBI Chairman M S Sahoo. Besides, top Finance Ministry officials attended the meeting. “The Regulators presented their proposals for the Union Budget 2018-19 concerning development of their respective sectors. The Council deliberated over these proposals. Concerned Ministries/Departments were advised by the Council to examine respective proposals in detail for appropriate further decision,” a finance ministry statement said. Union Budget for 2018-19 would be presented by Jaitley in Parliament on February 1.