The Indian Economy Since 1991, 2nd Edition

Appendix 11

Economic Reforms, 2001–02

Structural Reform Initiatives

• Interest rates on small savings reduced.
• Government equity disinvested in select public sector undertakings like the VSNL (Videsh Sanchar Nigam Ltd), the IBP (Indian British Petroleum), the CMC (Computer Maintenance Corporation), the HTL (Hindustan Teleprinters Ltd), the PPL (Paradeep Phosphates Limited), the BALCO (Bharat Aluminium Company Ltd) and certain ITDC (Indian Tourism Development Corporation) hotels.
• VRS introduced for government employees in the surplus pool.
• Full decontrol of sugar announced during 2002–03 (conditional on commencement of futures trading).
• Items covered under the Essential Commodities Act reduced from 29 to 17.
• Licensing requirements and restrictions ...