3. Conduct monetary operations. Employ more frequently monetary policy instruments such as interest rate policy, reserve requirements and open market operations to regulate the money supply. 4. Deepen financial reforms. Reforms of state banks should be stepped up. New commercial banks will be set up. The policy of transforming rural credit co-operatives into co-operative financial institutions will be maintained.
In this process, effective structural reforms to draw out the dynamism inherent in the economy continue to be essential in addition to appropriate macroeconomic policies.