In addition, the government has embarked on ambitious structural reforms to revive growth, including significant efforts in the agricultural sector to boost productivity through irrigation, insurance, and access to markets, a strong push to deregulate business, especially for startups, important efforts to improve the governance of public sector banks and to resolve distress in power distribution companies, and an immense effort to expand financial services to the excluded through the provision of bank accounts and of direct benefit transfers.
While the eyes of the world have been on the much anticipated Goods and Services Tax reform, a number of other significant reforms have taken place, including the recent passage of the new Bankruptcy bill, which is likely to speed the resolution of distress tremendously.