Drivers of India’s Growth in the Last Decade

Financial Sector Reforms

  • Credit boom in the first decade led to a crisis up to 2020.
  • Reforms, including recapitalization, merger of PSBs, and IBC, improved financial sector health.

Simplification of Regulatory Frameworks

  • Regulatory simplification, including the Real Estate Act, reduced black money circulation.

Tax Policy Reforms

  • Adoption of GST, reduced corporate and income tax rates, and other reforms.
  • Transformational GST led to improved tax base and formalization of the economy.

Engagement with Private Sector

  • Revived disinvestment policy and introduced a new PSE policy.
  • Initiatives like Make in India and PLI to enhance manufacturing capabilities.
  • Liberalized FDI policy and opened strategic sectors for private ....
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