Specific to government running:

• Accelerated privatization of the competitive segment of the public sector would stimulate growth
  
• Expenditure Reforms Commission reports should be guiding path to control government expenditure
  
• Deep and comprehensive introduction of modern management systems in defense services
  
• Conversion of departmental public enterprises into companies with majority public holding, except in defense systems
  
• Downsize government, so that it becomes a facilitator of economic growth and investment

Food and agriculture:

• Food economy requires comprehensive reforms
  
• Unrestricted movement should be allowed in the agriculture sector
  
• Storage facilities segment should be opened up

Capital markets and financial services:

• Government securities market has to be further deepened and broadened
  
• Retailing of government securities required
  
• Derivative futures trading should be enhanced
  
• Financial markets should be made competitive, capital should be available at competitive rates
  
• Introduction of modern bankruptcy law
  
• Administered interest rates on pension and provident fund need to be altered so that they are in sync with inflation

Infrastructure:

Power sector reforms necessary for efficient systems and healthy state electricity boards

Reforms in insurance, pension and provident funds would help channelize investments in basic infrastructure such as power, telecom, roads etc

Autonomy to regulators required, a comprehensive system and uniform approach for all regulators

Taxation, excise and duties

• CENVAT should be further rationalized, custom duties should be reduced to Asian levels, CENVAT should co-ordinate with State VAT
  
• Auditing systems and procedures should be such that they catch high-income tax evaders rather than those who regularly pay tax on most of their income
  
• Imperative to widen the scope of service taxes

Subsidies, deregulation and market determined pricing:

• Subsidies on fertilizers, petroleum and sugar should be reduced, other efficient mechanisms to protect poor should be introduced
  
• In the case of fertilizers and natural gas, international market prices should prevail
  
• Deregulation of coal and petroleum sectors

General domestic reforms:

• New labor laws so as to encourage outsourcing of services and providing increased flexibility
  
• Repeal of Urban Land Ceiling laws at the State government level
  
• Small scale sector should be de-reserved to compete with imports particularly from China
  
• Remove rent control