It was established in 2003 based on the recommendations of the OASIS (an acronym for old age social & income security) report via resolution of the government. The central objective of the organization is to promote, develop and regulate pension sector in India
Conclusion
Apart from government interventions, measures like building investor confidence via stable fiscal policy, reviving demand via putting more money on the hands of the poor (this can be done via revising MGNREGS wage, increasing social sector spending etc.), relaxing FDI norms to boost foreign investment etc. may result in breach of limits under FRBM act but is the only way to address this economic downturn.
