The early nineties saw a substantial overhauling of the Indian economy through Structural Adjustment Programme (SAP), which encompassed a number of measures, viz., liberalisation of export-import policy, drastic lowering of import duties on many products, removal of import restrictions, reduction of investment in the agricultural and industrial sectors so as to allow the private sector to take over, exchange rate adjustment, decanalisation and reduction in peak tariff rates, besides abolition of export subsidies, improving competitiveness of Indian exports and integration of the national market with international market.