Economic Liberalization and Reform Policies (1991–2008)

1. Rupee devalued in two stages

   Jul 1, 1991Labels: Reserve Bank, Rupee devaluation

   • RBI History
   • India Today

2. New Industrial Policy announced

   Jul 24, 1991Labels: New Industrial, Ministry of

   • 1991 Project
   • 1991 Project

3. Narasimham Committee recommends bank reforms

   Nov 1, 1991Labels: Narasimham Committee, Banking reform

   • RBI History
   • RBI

4. SEBI becomes a statutory regulator

   Jan 30, 1992Labels: SEBI, Capital markets

   • SEBI Act
   • SEBI

5. LERMS introduces dual exchange rates

   Mar 1, 1992Labels: LERMS, Exchange rates

   • RBI History
   • Indian Express

6. Unified exchange rate adopted

   Jan 1, 1993Labels: Unified exchange, Foreign exchange

   • RBI History
   • Indian Express

7. National Telecom Policy 1994 announced

   Jan 1, 1994Labels: National Telecom, Telecommunications

   • CIS
   • DoT

8. Tarapore Committee submits CAC roadmap

   May 1, 1997Labels: Tarapore Committee, Capital account

   • RBI
   • INFLIBNET

9. NHDP launched to expand highway capacity

   Jan 1, 1998Labels: NHDP, National Highways

   • NHDP
   • Golden Quad

10. New Telecom Policy 1999 adopted

    Jan 1, 1999Labels: New Telecom, Telecom sector

    • DoT

11. FEMA replaces FERA framework

    Jun 1, 2000Labels: FEMA, Foreign exchange

    • FEMA
    • Business Standard

12. Competition Act receives presidential assent

    Jan 13, 2003Labels: Competition Act, Competition Commission

    • WIPO Lex
    • CCI

13. Electricity Act modernizes power-sector rules

    May 26, 2003Labels: Electricity Act, Power sector

    • Electricity Act

14. FRBM Act enacted for fiscal discipline

    Aug 26, 2003Labels: FRBM Act, Fiscal policy

    • FRBM Act

15. Patents (Amendment) Act enables product patents

    Jan 1, 2005Labels: Patents Amendment, Pharmaceutical patents

    • WIPO Lex

16. State VAT rollout begins across India

    Apr 1, 2005Labels: State VAT, Indirect tax

    • Times of India
    • Times of India

17. SEZ Act enacted to boost export-led zones

    Jun 23, 2005Labels: SEZ Act, Special Economic

    • India Code

18. SEZ Act comes into force

    Feb 10, 2006Labels: SEZ Act, SEZ implementation

    • India Code