- structural reforms towards market economy
- reduction of govt influence in determining prices of commodities
- supply and demand to now determine prices
- IMF Intervention pulled out india from BOP crisis and ushered capitalism
- societal imparts: increased inequalities, public preference for economic growth etc
Finance Sector
- banking sector: facilitate opening and expansion of private banks
Industrial
- moving away from licence raj
- deregulation
- delicensing
- disinvestment
MSME
- utilize their export and job creation potential
- important sector
Foreign Investment
Fiscal
- Tax reforms
- reduction of tax rates
- inc tax efficiency
- aim to reduce fiscal deficit
External Sector
- currency value to be determined by market
- Rate of growth strengthened after 90s