Appendix 8

Economic Reforms, 1998–99

Industry

  • Delicensing of coal and lignite, petroleum (other than crude) and its distillation products and bulk drugs.
  • Delicensing of sugar.
  • Dereservation of coal and lignite and mineral oils.
  • Companies were permitted to buy back their own shares subject to restriction of buyback to 25 per cent of paid-up capital and free reserves.
  • A national task force on information technology and software development submitted a 108-point action plan in July 1998. The government has accepted the recommendations and directions for their implementation have been given to all departments concerned.
  • Patent bill approved by Rajya Sabha and subsequently promulgated through an ordinance.
  • A number of items, including some farm implements ...

Get The Indian Economy Since 1991, 2nd Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.