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Finance Minister Nirmala Sitharaman has asked Securities and Exchange Board (Sebi) to initiate the next generation reforms to improve the ease of doing business and also be prepared to deal with possible market turbulence in the wake of actions by the US Federal Reserve. The minister's remarks come against the backdrop of the Federal Reserve deciding to tighten its monetary policy after a long period of easy money regime and its actions could impact fund flows into emerging markets, including India.

Further, she appreciated the initiatives taken by the regulator and emphasised the need to take further steps to reduce compliance burden, cost of market intermediation apart from more measures to strengthen investor protection.

Besides, she also asked the Sebi to further boost the corporate bond market and also develop green bond market in the context of increasing focus on ESG (Environment, Social and Governance) investments.