The opportunity provided by the U. S. Federal Reserve's decision of delaying the tapering of Quantitative Easing (QE) should be utilized to take preventive measures and counter potential macroeconomic imbalances, Finance Minister P. Chidambaram said.

Mr. Chidambaram said financial sector regulators should avail the opportunity to implement all possible measures to buffer the India economy from any adverse impact of roll back of stimulus programs in the U. S. and other advanced economies. He was speaking at the 8th Financial Stability & Development Council (FSDC) on Thursday.

Speaking on the topic, he said, "The opportunity available due to the postponement of the reversal of the monetary policies in advanced economies should be utilized to further address the macroeconomic imbalances."

RBI Governor Raghuram Rajan, Finance Secretary R. S. Gujral, Department of Economic Affairs Secretary Arvind Mayaram, Secretary Sumit Bose, and SEBI Chairman U. K. Sinha were among the people who attended the meeting.

QE tapering refers to gradual withdrawal of the Federal Reserve's $85 billion per month bond purchase program. A plan to start tapering QE was postponed by U. S. central bank in September.

The tapering of QE in advanced economies will impact flows of funds to developing economies like India.