Buoyant growth in domestic demand, supported by high employment levels and improved terms of trade, has been substantially offset by a fall in net exports.
20. Broadly, the recent regulatory and institutional reforms have been  aimed at enabling the domestic financial markets to face the challenges of the next decade. Cutting across market segments, these reforms seek to usher in a simplified, principle-based regulatory framework that seeks to broadbase markets by easing access, enhancing participation, facilitating innovation, protecting users and promoting fair conduct.