The economic agenda of the NDA released by finance minister Yashwant Sinha on Thursday, also states that efforts would be made to reduce pre-emption of provident and insurance funds by the government and reform institutional framework to enable long-term funds for infrastructure projects.

The manifesto, called a Charter of Commitments is essentially an elaboration of several points already made in the NDA's manifesto (called An Agenda) and released by Prime Minister AB Vajpayee on Monday.

The promise to allow provident funds to invest in the stock markets essentially follows from a recommendation of the SA Dave Committee on PF reforms. Dave had argued that the only way to increase the annual returns for PFs was to allow them to invest in equity, as had beendone in a few other countries across the world.

Other promises made today include creating a separate tribunal called Commercial Insolvency Tribunal to take up cases relating to winding up of companies and their revival.

The agenda also promises financial measures for encouraging research in pharmaceutical sector.

With regard to trade and commerce, the agenda points out that focus would be of specific products for encouraging exports. The government would announce specific packages for horticulture and floriculture EoUs. Attempts would be made to build a system of trade and economic cooperation through expanded Global System of Trade Preferences (GSTP) among developing countries.

In addition, healthy commodity exchange system would be established and managed in an autonomous way.

The state, the agenda says, will provide services, technology and marketing facilities to artisans, small scale, village, handloom and handicrafts and similar other industries.

On the infrastructure front, the NDA haspromised to focus on development of energy and transport. The promises include corporatisation of SEBs, setting up of Power Trading Corporation, development of national transmission network and further simplification of project clearance process.

The NDA also pledged to corporatise ports, increase operational autonomy and regulate divestment in the port trusts. Also Delhi Vidyut Board is proposed to be restructured.

The NDA agenda also include setting up of a Food Development Bank, National Storage Policy, Vanvasi Fund and National Housing and Habitat Policy. It also proposed reforms of the public sector units.

The agenda also reiterated the resolve of the alliance to revitalise the economic reforms with emphasis on employment, infrastructure, agriculture, agro-industry and rural development. The GDP growth rate is proposed to be increased to 7-8 per cent bracket.

The government, the economic agenda says, will work towards controlling fiscal and revenue deficits and examine the possibility of enactinga Fiscal and Revenue Processing Act.

It also promises that efforts would be made to strengthen national economy with focus on indigenous industrial base and financial and services sectors. The national savings rate is proposed to be increased to 13 per cent.