Fiscal and Monetary Policy — Policy Reforms

Entry	Year	Description	Impact
101st Constitutional Amendment Act	2016	This landmark amendment introduced the Goods and Services Tax (GST) in India. It inserted new articles like 246A (concurrent power to Centre and states to make laws with respect to GST), 269A (levy and collection of GST in inter-state trade), and 279A (constitution of GST Council).	Revolutionized India's indirect tax structure by replacing multiple central and state taxes with a single, unified tax. Significantly impacted fiscal federalism, revenue collection, and ease of doing business, aiming for a common national market. It also created a unique cooperative federal body, the GST Council, for decision-making.