Government has constituted a Standing Council of Experts to assess global competitiveness of the Indian Financial Sector.The Council to be headed by the Secretary, Department of Economic Affairs will examine various pecuniary and non-pecuniary transaction costs and burden of doing business in the Indian market and make recommendations for enhancing its competitiveness.It will also suggest reform measures aimed at enhancing transparency, promoting development and strengthening governance in the Indian capital markets and financial sector while ensuring that risks are contained and investor interests are protected.According to Ministry of Finance, the panel will include government and as well as private sector financial experts.