These efforts by the Reserve Bank to develop efficient, stable and healthy financial markets accelerated after 1991. There has been close co-ordination between the Central Government and the Reserve Bank, as also between different regulators, which helped in orderly and smooth development of the financial markets in India. What have been the major contours of the financial sector reforms in India?
It is now very close to the historical peak it reached in 2010, during the mining investment boom. Meanwhile the unemployment rate has drifted down, but not as quickly as in some other countries. The increase in participation has been especially marked in Australia but has not been unique to us.