Economic Recovery Measures — Policy Reforms

Entry	Year	Description	Impact
Not a Constitutional Amendment, but legislative change	2020	Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 and subsequent amendments.	Temporarily suspended the initiation of new insolvency proceedings under Sections 7, 9, and 10 of the IBC for defaults arising on or after March 25, 2020, for a period of up to one year. Later, a pre-packaged insolvency resolution process (PIRP) was introduced for MSMEs. This provided crucial relief to businesses facing pandemic-induced stress, preventing a wave of bankruptcies and allowing them time to recover.
Not a Constitutional Amendment, but legislative changes	2020	Enactment of four Labour Codes: Code on Wages, Industrial Relations Code, Code on Social Security, and Occupational Safety, Health and Working Conditions Code.	These codes aimed to consolidate and rationalize 44 central labour laws, simplifying the regulatory framework, improving ease of doing business, and extending social security benefits to more workers, including those in the unorganized sector. While their full implementation is pending, they represent a significant structural reform intended to boost industrial growth and formalization, contributing to long-term economic recovery.
Not a Constitutional Amendment, but legislative changes	2020	Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020; Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020; and Essential Commodities (Amendment) Act, 2020.	These farm laws aimed to liberalize agricultural markets, allow farmers to sell produce outside APMC mandis, facilitate contract farming, and deregulate essential commodities. The intent was to boost farmer incomes and attract private investment in agriculture. However, due to widespread protests, these laws were eventually repealed in 2021. Their initial introduction was part of the broader structural reform agenda during the recovery phase.