🟫 The unsustainable credit boom in millennium's first decade increased banks' #NPAs (Non-performing Assets).....

👉This triggered a prolonged period of repairing financial and non-financial sector balance sheets for which the govt. and the RBI implemented several policies

👉Amendment to #SARFAESIACT2002 happened with the implementation of the Insolvency and Bankruptcy Code(IBC) ; introduction of 'Asset Quality Review' ; adoption of Prompt Corrective Action Framework of RBI ; recapitalisation of PSBs ; and the mergers✅️

🟪 New Age reforms since 2014 repaired the balance sheet in the millennium 's second decade that dampened India's growth potential and dynamism

🔷Simplification of IBC Code is there with The Real Estate Act(RERA) to enhance the ease of doing business

🟡 Reforms in taxation ecosystem like GST, removal of Dividend Distribution Tax etc

🔵Infrastructure modernization through Bharatmala(road connectivity), Sagarmala(port infrastructure ), electrification of railways, airports /air routes (UDAN)

👉The National Logistics Policy, 2022, The National Infrastructure Pipeline (NIP), PLI Scheme, 💯FDI under automatic route, New Public Sector Enterprise Policy to Emergency Credit Line Guarantee Scheme(ECLGS), revision in defination of MSMEs etc....

🇮🇳Recent Digital initiatives like 👉Open Network for Digital Commer(ONDC) and the Account Aggregtor Framework....


🔵Read the Way Forward given above in the yojana article✅️