Some of the major recommendations made by Subramanian:

Twin balance sheet problem:

In his 2016-17 survey, Subramanian spoke about the double whammy of overleveraged companies and distressed assets being held in bank books. This was the basis for the government’s action to reduce NPAs through bankruptcy code.

Revival of public sector

investment:

In his first document, the mid year economic review 201415, he pushed for higher public expenditure. Govt followed suit with record capital expenditure outlay in 2015-16, 2016-17, 2017-18.

JAM Trinity:

Subramanian pushed the idea of targeted subsidies and government benefits through the trinity of JanDhan-Aadhaar-Mobile, in his 2015-16 survey. Almost all of the government’s subsidies to beneficiaries are now routed through these channels under the DBT scheme

UBI:

Subramanian, in his 2016-17 survey, pushed for a minimum level of cash transfers for India’s poorest. This proposal has not yet gained traction in the central government, though some states have shown interest

Bad bank:

In his 2017-18 survey, Jaitley proposed a bad bank to take over all the toxic assets of the banks, dubbed the Public Sector Asset Rehabilitation Agency.

The government is examining the feasibility of setting up a such a bank