Economic Reforms and Current Issues — Policy Reforms

Entry	Year	Description	Impact
101st Constitutional Amendment Act	2016	This landmark amendment paved the way for the introduction of the Goods and Services Tax (GST) in India. It inserted new articles (e.g., 246A, 269A, 279A) and amended existing ones, empowering both the Parliament and State Legislatures to make laws with respect to GST levied on the supply of goods or services or both.	Unified India's indirect tax regime, creating a common national market, reducing cascading effects of taxes, and improving tax compliance and ease of doing business. It significantly altered Centre-State fiscal relations and streamlined the tax structure.
97th Constitutional Amendment Act	2011	This amendment gave constitutional status and protection to cooperative societies. It inserted Article 43B (promotion of cooperative societies) in Part IV (DPSP) and Article 243ZH to 243ZT in Part IXB (the Cooperative Societies).	Aimed at promoting democratic functioning, autonomous management, and professional supervision of cooperative societies. While not a direct 'economic reform' in the 1991 sense, it sought to strengthen a crucial segment of the rural economy and financial sector, impacting agricultural credit and rural development, aligning with inclusive growth objectives.
86th Constitutional Amendment Act	2002	Made education a fundamental right by inserting Article 21A, which states that the State shall provide free and compulsory education to all children of the age of six to fourteen years. It also amended Article 45 and inserted a new clause (k) under Article 51A.	While primarily a social reform, it has profound economic implications. Investing in human capital through education is a critical long-term economic reform, enhancing productivity, skill development, and overall human development, which are essential for a knowledge-based economy and sustainable growth. It directly addresses 'employment and human development challenges' [VY:ECO-10-01].