tFw

FC0t0HlC
P0llCY
1991
HRlTYutJAY KuHAR
HFAtlt6 0F
tFw FC0t0HlC P0llCY
THF tFw FC0t0HlC P0llCY C0HPRlSFS 0F
vARl0uS P0llCY HFASuRFS At0 CHAt6FS
ltTR00uCF0 SltCF 1991. THF THRuST 0F tFw
FC0t0HlC P0llCY lS T0wAR0S CRFATlt6
H0RF C0HPFTlTlvF FtvlR0tHFtT AS A
HFAtS T0 lHPR0vF THF PR00uCTlvlTY At0
FFFlClFtCY lt THF FC0t0HY.
THF HAlt 0JFCTlvF 0F tFw FC0t0HlC P0llCY
lS T0 PR0H0TF C0HPFTlTl0t At0 FFFlClFtCY
ltTR00uCTl0t
FC0t0HlC RFF0RH wFRF ltTR00uCF0 lt THF YFAR
1991. FF0RF 1991 PullC SFCT0R HAS FFt
ASSl6tF0 lHP0RTAtT R0lF lt THF FC0t0HlC
0FvFl0PHFtT. lT wAS RFAllSF0 THAT PullC
SFCT0R wAS ltFFFlClFtT FCAuSF 0F RF0 -
TAPlSH, 0vFR STAFFlt6, lACK 0F ltlTlATlvF,
FTC..
tFT RFSulT 0F All THlS wAS THF ACuTF FC0t0HlC
CRlSlS lt lt0lA. FRFSH l0At wFRF t0T
AvAllAlF At0 t0t - RFSl0FtT Fut0S wFRF
Flt6 wlTH0RAwt.
SltCF JulY 1991
THF 60vFRtHFtT 0F lt0lA HAS TAKFt HAtY P0llCY
HFASuRFS wlTH THF 0JFCTlvF 0F Pulllt6 THF
C0utTRY 0uT 0F FC0t0HlC CRlSlS At0
ACCFlFRATlt6 THF RATF 0F FC0t0HlC 6R0wTH.
HAlt AH0t6 THFH ARF.-
1. PR0H0Tlt6 llFRAllSATl0t.
2. FtC0uRA6lt6 PRlvATF SFCT0R
3. PR0H0Tlt6 F0RFl6t 0lRFCT ltvFSTHFtT
4. H00FRtlSATlt0t 0F A6RlCulTuRF
5. CHAt6FS lt TRA0F P0llCY & FlSCAl P0llCY
6. ltTR00uClt6 lHPR0vF0 TFCHt0l06Y
7. KFFPlt6 FlSCAl 0FFlClT ut0FR C0tTR0l
THFSF P0llClFS ARF CAllF0 tFw FC0t0HlC P0llCY
FFATuRFS 0F 0l0 FC0t0HlC P0llCY
1. HlXF0 FC0t0HY
2. H0RF lHP0RTAtCF T0 PullC SFCT0R
3. PR0TFCTl0t A6AltST F0RFl6t
C0HPFTlTl0t
4. RFSTRlCTl0tS 0t F0RFl6t CAPlTAl
5. FlXF0 RATF 0F FXCHAt6F
6. FlXF0 P0llCY
7. PR0H0Tl0t 0F FXP0RTS At0
SuSTlTuTl0t 0F lHP0RTS
tFF0 F0R
tFw FC0t0HlC P0llCY
1. FlSCAl 0FFlClT
2. ltCRFASF lt utFAv0RAlF AlAtCF
0F PAYHFtTS
3. 6ulF CRlSlS
4. FAll lt F0RFl6t FXCHAt6F RFSFRvFS
5. RlSF lt PRlCF
6. P00R PFRF0RHAtCF 0F PullC SFCT0R
ut0FRTAKlt6
HAlt 0lvlSl0tS 0F
tFw FC0t0HlC P0llCY
1. STRuCTuRAl P0llCY
A)lt0uSTRlAl P0llCY
)F0RFl6t TRA0F P0llCY
C)F0RFl6t lt0uSTRlAl P0llCY
2. STAlllSATl0t P0llCY
A)H0tFTARY P0llCY
)FlSCAl P0llCY
FFATuRFS 0F
tFw FC0t0HlC P0llCY
1.llFRAllSATl0t
2.PRlvATlSATl0t
3.6l0AllSATl0t
4.0THFR FC0t0HlC
RFF0RHS
llFRAllSATl0t
llFRAllSATl0t HFAtS T0 RF0uCF
uttFCFSSARY RFSTRlCTl0tS At0 C0tTR0lS
0t uSltFSS utlTS lHP0SF0 Y 60vFRtHFtT.
HFASuRFS TAKFt F0R llFRAllSATl0t.-
1. llFRAllSATl0t 0F lt0uSTRlAl llCFtSlt6
2. FRFF00H F0R FXPAtSl0t At0 PR00uCTl0t T0
lt0uSTRlFS
3. ltCRFASF lt THF ltvFSTHFtT llHlT 0F SHAll
lt0uSTRlFS
4. FRFF00H T0 lHP0RT CAPlTAl 6000S At0 RAw
HATFRlAlS
5. FRFF00H T0 lHP0RT TFCHt0l06Y
6. llFRAllSATl0t lt TAXATl0t P0llCY
A0vAtTA6FS 0F
llFRAllSATl0t
1.ltCRFASF lt F0RFl6t
ltvFSTHFtT
2.ltCRFASF lt F0RFl6t
FXCHAt6F RFSFRvFS
3.ltCRFASF lt lt0uSTRlAl
PR00uCTl0t
4.ltCRFASF lt C0HPFTlTl0t
5.C0tTR0l 0vFR PRlCF
0lSA0vAtTA6FS 0F
llFRAllSATl0t
1. ltCRFASF lt utFHPl0YHFtT
2. l0SS T0 00HFSTlC utlTS
3. ltCRFASF0 0FPFt0FtCF 0t
F0RFl6t tATl0tS
4. utAlAtCF0 0FvFl0PHFtT
5. ltCRFASF lt RF6l0tAl
lHAlAtCF
PRlvATlSATl0t
PRlvATlSATl0t HFAtS All0wlt6 THF PRlvATF
SFCT0R T0 SFT uP H0RF At0 H0RF AS SuCH
lt0uSTRlFS AS wFRF PRFvl0uSlY RFSFRvF0
F0R PRlvATF SFCT0R.
HFASuRFS 0F PRlvATlSATl0t .-
1. C0tTRACTl0t 0F PullC SFCT0R
2. SAlFS 0F SHARFS 0F PullC SFCT0R T0 THF
PRlvATF SFCT0R
3. SlCK PullC SFCT0R lt0uSTRlFS
4. HFH0RAt0uH 0F ut0FRSTAt0lt6
5. tATl0tAl RFtFwAl Fut0
A0vAtTA6FS
PRlvATlSATl0t
1. ltCRFASF lt FFFlClFtCY
2. PR0FFSSl0tAl HAtA6FHFtT
3. ltCRFASF lt C0HPFTlTl0t
4. lt lltF wlTH ltTFRtATl0tAl
TRFt0S
5. RF0uCTl0t lt FC0t0HlC uR0Ft
0F 60vFRtHFtT
0lSA0vAtTA6FS 0F
PRlvATlSATl0t
1.lt0uSTRlAl SlCKtFSS
2.lACK 0F S0ClAl
wFlFARF
3.ClASS STRu66lF
4.ltCRFASF lt ltF0uAllTY
5.P0llTlCAl PRFSSuRF
6l0AllSATl0t
6l0AllSATl0t HFAtS lltKlt6 THF FC0t0HY
0F A C0utTRY wlTH THF FC0t0HlFS 0F 0THFR
C0utTRlFS Y HFAtS 0F FRFF TRA0F, FRFF
H0lllTY 0F CAPlTAl At0 lA0R, FTC
HFASuRFS 0F 6l0AllSATl0t.-
1. ltCRFASF lt F0RFl6t ltvFSTHFtT
2. PARTlAl C0tvFRTllllTY 0F lt0lAt RuPFF
3. F0RFl6t TRA0F P0llCY
4. RF0uCTl0t lt TARlFFS
5. FXP0RT PR0H0Tl0t
A0vAtTA6FS 0F
6l0AllSATl0t
1. ltCRFASF lt F0RFl6t TRA0F
2. ltCRFASF lt F0RFl6t ltvFSTHFtT
3. ltCRFASF lt F0RFl6t
C0llA0RATl0t
4. ltCRFASF l F0RFl6t FXCHAt6F
5. FXPAtSl0t 0F HARKFT
6. ltCRFASF lt FHPl0YHFtT
0lSA0vAtTA6FS 0F
6l0AllSATl0t
1.l0SS T0 00HFSTlC
lt0uSTRlFS
2.utFHPl0YHFtT
3.FXPl0lTATl0t 0F lA0R
4.0FH0tSTRATl0t FFFFCT
5.ltCRFASF lt ltF0uAllTlFS
HAlt C0HP0tFtT 0F
tFw FC0t0HlC P0llCY
1.tFw lt0uSTRlAl P0llCY
2.tFw F0RFl6t TRA0F
P0llCY
3.tFw FlSCAl P0llCY
4.tFw H0tlT0RY P0llCY
tFw lt0uSTRlAl P0llCY
0t 24
TH
JulY 1991. 60vFRtHFtT 0F lt0lA
Att0utCF0 lTS tFw lt0uSTRlAl P0llCY. lT lS
A P0llCY 0F llFRAllSATl0t AS A6AltST
RF6ulATl0t At0 PRlvATlSATl0t AS
A6AltST tATl0tAllSATl0t.
FFATuRFS 0F tFw lt0uSTRlAl P0llCY.-
1. C0tTRACTl0t 0F PullC SFCT0R
2. FXPAtSl0t 0F PRlvATF SFCT0R
3. C0tCFSSl0tS FR0H H0t0P0llFS ACT
4. F0RFl6t 0lRFCT ltvFSTHFtT
5. F0RFl6t TFCHt0l06Y A6RFFHFtT
tFw F0RFl6t TRA0F P0llCY
1. THF F0RFl6tFRS CAt ltvFST uP T0 100 0F
PAl0 uP CAPlTAl
2. RuPFF lS FullY C0tvFRTllF lt F0RFl6t
CuRRFtCY
3. llFRAllSATl0t
4. CuST0H 0uTlFS At0 TARlFFS ARF Flt6
6RA0uAllY l0wFRF0
5. F0RFl6t TFCHt0l06Y HAvF FtC0uRA6F0
6. FXP0RTS HAvF FFt FtC0uRA6F0
tFw FlSCAl P0llCY
1. RF0uCTl0t lt TAX - RATFS
2. RF0uCTl0t lt t0t - 0FvFl0PHFtT
FXPFt0lTuRF
3. RF0uCTl0t lt SuSl0lFS
4. RF0uClt6 0FPFt0FtCF 0t FXTFRtAl
0RR0wlt6S
5. T0 0lSC0uRA6F 0FFlClT FltAtClt6
6. FTTFR C0llFCTl0t 0F lt0lRFCT TAX
tFw H0tlT0RY P0llCY
1. RF0uCTl0t lt AtK RATF, STATuT0RY
ll0ul0lTY RATl0 At0 CASH RFSFRvF - RATl0
S0 AS T0 ltCRFASF THF AvAllAlllTY 0F
CRF0lT lt THF FC0t0HY
2. RF0uCTl0t lt ltTFRFST RATFS S0 AS T0
HAKF 00HFSTlC ltvFSTHFtT RATF lt lltF
wlTH ltTFRtATl0tAl TRFt0S
3. T0 0lSC0uRA6F utPR00uCTlvF - l0AtS S0
THAT H0RF Fut0S ARF AvAllAlF F0R
PR00uCTlvF l0AtS
4. utlF0RH SYSTFH 0F ACC0utTlt6
AR6uHFtTS lt FAv0R 0F
tFw FC0t0HlC P0llCY
1. ltCRFASF lt RATF 0F FC0t0HlC 6R0wTH
2. AvAllAlllTY 0F H00FRt TFCHt0l06Y
3. lHPR0vFHFtT lt AlAtCF 0F PAYHFtT
4. C0tTR0l 0t PRlCFS
5. RF0uCTl0t lt FlSCAl 0FFlClT
6. ltCRFASF lt CAPlTAl F0RHATl0t
7. ltCRFASF lt lt0uSTRAllSATl0t
8. ltCRFASF lt FFFlClFtCY 0F PullC SFCT0R
utlTS
9. lHPR0vFHFtT lt TAX C0llFCTl0t
10.ltCRFASF lt FHPl0YHFtT
AR6uHFtTS A6AltST
tFw FC0t0HlC P0llCY
1. PRFSSuRF FR0H lHF & w0Rl0 AtK
2. lFSS lHP0RTAtCF T0 A6RlCulTuRF
3. H0RF 0FPFt0FtCF 0t F0RFl6t 0FT
4. 0FPFt0FtCF 0t F0RFl6t TFCHt0l06Y
5. PR0H0Tl0t 0F C0tSuHPTl0t
6. H0RF lHP0RTAtCF T0 PRlvATlSATl0t
7. PR0lFH 0F utFHPl0YHFtT
8. l0SS T0 00HFSTlC lt0uSTRlAl utlTS
9. l6t0RFS S0ClAl wFlFARF
10.PR0H0TFS C0tSuHPTl0t 0F FC0t0HlC
P0wFR
ACHlFvFHFtTS 0F
tFw FC0t0HlC P0llCY
ltCRFASF lt tATl0tAl ltC0HF
ltCRFASF lt lt0uSTRlAl PR00uCTl0t
C0tTR0l 0vFR ltFlFCTl0t
ltCRFASF lt FXP0RTS
ltCRFASF lt F0RFl6t CuRRFtCY
RFSFRvFS
ltCRFASF lt F0RFl6t 0lRFCT
ltvFSTHFtT
RF0uCTl0t lt FlSCAl 0FFlClT
SH0RTC0Hlt6S 0F
tFw FC0t0HlC P0llCY
lFSS ltCRFASF lt
A6RlCulTuRAl PR00uCTl0t
ltCRFASF lt lHP0RTS
FAlluRF lt P0vFRTY
All0CATl0t
ltCRFASF lt
utFHPl0YHFtT
THAtK Y0u
PRlHF HltlSTFR FltAtCF HltlSTFR