It is hoped that the Expert Committee would address broader issues such as tax-regimes affecting all forms of savings, especially the possible distortions between debt and equity instruments. However, interest rate flexibility should not be taken to mean a continuous downward movement in interest rates.
Recovery from the global crisis is taking longer than anyone expected. More than a half decade onwards and many countries are still struggling with painful legacies of the crisis, including extraordinarily high debt and soaring unemployment and it’s not yet over.