As we do this, we need to be cognizant of the vast range of capabilities of different market participants in as diverse a country as India: from subsistent farmers to the most sophisticated financial market practitioners. References Ahluwalia, M.S. (2002), “Economic reforms in India since 1991: has gradualism worked?”, Journal of Economic Perspectives, Vol. 16, No. 3, pp. 67-88.
Friedman, Benjamin (2000), "The Role of Interest Rates in Federal Reserve Policymaking", Working Paper 8047, National Bureau of Economic Research. Government of India (2005), Report of High Level Expert Committee on Corporate Bonds and Securitization, (Chairman: R. H. Patil), available at http://finmin.nic.in/downloads/reports/ReportExpert.pdf.