A government-appointed committee has proposed liberalizing investment...

A government-appointed committee has proposed liberalizing investment of India’s $62.5 billion Employees’ Provident Fund for all Indian workers. The committee seeks to allow the New Delhi-based provident fund to invest up to 20% of the fund in investment-grade corporate debt and up to 10% of assets in domestic stocks. The report adds that domestic equities initially should be permitted only through index funds. At present the fund must invest 40% of assets in state-owned companies, 25% in government securities and 10% in other areas, including domestic stocks and bonds.