All financial market regulations should be brought under the Securities and Exchange Board of

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India, the Economic Survey said today.

"Bring all financial market regulations under SEBI with a view to (encouraging) integrated development," the Survey said, while listing the potential policy decisions for the government in the financial market arena.

At the same time, the Survey also suggested broadening the long-term debt markets by liberalising the investment norms for insurance and pension funds and said that the government could consider a guarantee mechanism for credit enhancement of long-term infrastructure debt.

According to the Survey, the global financial crisis adversely impacted the Indian capital market during 2008. "Having regard to these trends, the regulatory measures initiated during the year were aimed at ensuring the soundness and stability of the Indian capital market," said the Survey.

"The global crisis also meant that the economy experienced extreme volatility in terms of fluctuations in stock market prices, exchange rates and inflation level during a short duration necessitating reversal of policy to deal with emergent situations," the Survey noted.