India’s entry in to the league of top economies of the world and a preferred investment destination validated the success of the policy. 3. These changes were result of well-thought policies. Though the push can be attributed to the precarious economic situation of 1991, the course was set by series of calibrated steps.
Reforms were carried out keeping in view the interests of all the stakeholders, especially large sections that are economically weak. Steady reforms have proved to be more stable and durable. 4. Financial sector reforms have been part of overall scheme of reforms and have complemented the other components of economic policy.