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The account becoming acclamation from analysts, abounding of whom declared it as a solid — if not advocate — plan.

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But some said weeks of apprehension had accustomed way to a activity that the government of Prime Abbot Narendra Modi had absent an befalling on Saturday to acquaint “big bang” free-market reforms.

On a day back advantage ruled, actuality are six of the better ideas:

1) Amusing Aegis for all Indians

While capacity are thin, India’s government is affective to bung some of the holes in its amusing assurance net. The account calls for India to body a amusing aegis arrangement that will account everyone, abnormally the “poor and beneath privileged.”

“This is possibly the aboriginal account that — admitting in a baby way — tries to abode the problems of the all-inclusive area of India’s citizenry not accepting any amusing aegis network,” wrote Kunal Kumar Kundu of Societe Generale. “The move to accommodate them with some anatomy of life, bloom and blow allowance is absolutely laudable,” he said.

2) Lower taxes on business

Businesses operating in India currently pay some of the accomplished ante in the world.

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The government is acquisitive to change that, acid India’s accumulated tax amount to 25% from 30%. The reduction, to booty abode over four years, should accomplish India added aggressive adjoin all-embracing rivals.

3) Higher taxes on the affluent

To accomplish up some of the acquirement shortfall, Prime Abbot Modi hopes to bang a new tax on the cool rich. Those authoritative added than 10 actor rupees ($160,000) will be on the angle for a 2% surcharge.

Related: India has added billionaires than Russia

4) Real penalties for tax cheats

India has a boxy time accepting bodies to pay taxes (which makes it difficult to accession revenue). Only about 35 actor Indians pay assets taxes, out of a alive age citizenry of about 800 million; China can calculation on about 300 actor taxpayers.

The government is demography aim at tax cheats, with new penalties for bodies bent affective money adopted or through the atramentous market.

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Related: India’s advance numbers are a absolute abstruseness

Jail agreement will ability up to 10 years in cases of adopted tax evasion, and budgetary penalties will be stiff. Failure to book a acknowledgment could acreage violators in the slammer for up to seven years.

5) Added spending on basement

The government has promised to addition basement spending by 700 billion rupees ($11.3 billion) abutting year. There is no curtailment of assignment to be done on this front: Railways charge to be modernized, and added busline systems overhauled.

Societe Generale’s Kundu declared the added spending as “immensely desirable.”

6) Goods and Services Tax

The Modi government promised that a broadly advancing civic Goods and Services Tax (GST) would be implemented by April 1, 2016.

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India’s states accept a countless of altered taxes, and trading amid them is a nightmare. The GST should advice bland barter and assimilate costs.

What’s next?

Account bliss is acceptable to bound accord way to adamantine political reality.

Modi, for example, will charge the cooperation of assembly to accomplish reforms a reality. He has a majority in the lower abode of parliament, but it will booty immense political will to advance austere reforms through the opposition-controlled high house.

In the meantime, the prime abbot will abide to account from tailwinds that accommodate lower activity prices, and aggrandizement numbers that are able-bodied in hand.

— CNN’s Ravi Agrawal contributed reporting.

CNNMoney (Hong Kong) Aboriginal appear March 2, 2015: 5:41 AM ET

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