financial performance

Next Generation Financial Reforms: 

Next Generation Financial Reforms

Historical Perspectives: 

Historical Perspectives The Finance Commission of India was established as per the drafted Acts and Rules in the year 1951. The President of India is empowered with the selection and responsibilities of the finance commission of India. Further, the President of India assigns the term of their office of the Finance commissioner and the four other member of the commission.

Financial Sector Reforms: 

Financial Sector Reforms Nationalization of banks in 1969 Setting up of various Organizations ICICI

Early 90s: 

Early 90s Extensive Regulations Administered interest rates Directed Credit programme Weak banking structure Lack of transparency

Major landmark in Indian Economy : 

Major landmark in Indian Economy Industrial policy 1991 1 st Generation Reforms 2 nd Generation Reforms

Industrial Policy 1991: 

Industrial Policy 1991 L.P.G. - Abolition of licenses for many industries Deregulation of manby industries Privatization of many Industries Dereservation of many small scale industries.

1st Generation Reforms: 

1 st Generation Reforms Creating an Efficient, productive financial sector. Flexibility in Operations Functional Autonomy Joining WTO(1994) Kelkar Committee on tax system Banking Sector Reforms (Based Narasimham Committee Report 1991 and 1998) Regulatory body SEBI, 1992.

2nd Generation Reforms: 

2 nd Generation Reforms Strengthening financial Systems Introduction Structural improvements Insurance sector reforms (IRDA) Administrative reforms (Procedural reforms e.g. Single Window, RTI (Right to Information Act 2005) Legal Reforms Competition act 2003 replaced MRTP 1969 FEMA 2002 replaced FERA 1973

Achievements- Banking Sector: 

Achievements- Banking Sector Competition has enhanced and customer has been benefited Enhancing role of Market forces Institutional legal measures, Supervisory Measures (CCTVs) Technological (CBS Banking system)

Achievements: 

Achievements Exchange rate regime on market based More Finance mobilization Institutional framework improved Increase in instruments in Financial services Overall in the last twenty years, we have been pushed economy to forward to average growth rate of 8 percent, Increase in opportunities, employment, improved infrastructure and more integration with world economies. Purchasing Power parity raised to 4.

What to be Done!: 

What to be Done! More financial inclusion means access to financial services Inclusion of Agriculture Sector More procedural reforms (paper works) Taxation system (DTC) Integration with International financial system (GST)

Thank You: 

Thank You