Very clearly this diversion to bio-fuel is a policy induced new reality which coincided with price escalation in precisely those products and hence, is noteworthy. Fifth, the financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices.
Further, a broad assessment of the impact of reforms will precede a description of the work in progress. II. Progress of reforms  India embarked on a strategy of economic reforms in the wake of a balance-of-payments crisis in 1991; a central plank of the reforms was reforms in the financial sector, and with banks being the mainstay of financial intermediation, the banking sector.