Prime Minister Atal Bihari Vajpayee has given his go-ahead to an ambitious 90-point reform matrix for 2003-04.

This includes setting up a Railway Tariff Regulatory Authority and a divestment proceeds fund, and deciding on the Kelkar task force's report on indirect taxes.

According to sources in the Prime Minister's Office, the agenda will set in motion second-generation reforms in the country.

The plan was recently fine-tuned at a meeting of finance ministry, Cabinet secretariat, Planning Commission and PMO officials.

Since the reforms agenda was finalised after inter-ministerial consultations, it is unlikely to be discussed by the committee of secretaries.

Sources said with the prime minister's clearance, the reform matrix will be taken up by the Cabinet Committee on Economic Reforms.

A Cabinet note is being prepared by the ministry of planning in consultation with the Planning Commission.

This would spell out the reform agenda in detail, along with 30-odd carry-over items from the last fiscal, the sources added.

The reforms agenda includes putting in place the National Company Law Tribunal and the Competition Commission of India.

A concerted effort has also been made by the PMO to push public-private partnership in the social, health and infrastructure sectors.

The sources pointed out that the Govindarajan committee's report on reforming investment approval and implementation procedures had been notified.

The second report of the committee on downstream issues had also been accepted in principle and would be notified soon, they added.

The government plans to make the reform matrix a public document after it is approved by the Cabinet. E-governance will also be a major focus area for the government in 2003-04.