To conclude, let me once again recall what “the uncommon common man’, Shri M R Pai espoused. In his words “most Indians are ignorant of their rights and are therefore taken for a ride”.
I.  Overcoming deflation  Zero lower bound on nominal interest rates and deflationary equilibrium The first issue is the mission to overcome deflation. Since the financial crisis in the 1990s, Japan’s economy is said to have fallen into deflationary equilibrium, in which prices decline gradually and persistently. Let me start with a look at this deflationary equilibrium.