. This book has been designed in terms of the core analytical framework of two taxonomy tables: a) Taxonomy of Economic Reforms, and b) Taxonomy of Oil Sector Reforms. These two tables present structures, business segment and significant economic activities of the 'economy' and the 'oil sector', respectively. The impact of oil sector reforms on other segments of the economy has been analyzed in terms of macro-economic parameters. How closely reforms in oil sector and those in national economy have moved and interacted with each other have been analyzed and conclusions have moved and interacted with each other have been analyzed and conclusions have been drawn from the different perspectives of policy-making and their impact. This book comes out with significant findings, which inter alia will be useful in designing national level policy and corporate strategy. The method adopted in this study is what applicable for a sectoral strategy (i.e., for oil sector), within the emerging market condition (from monopolistic market gravitating towards competitive market), under an overall policy regime (transformation of a public sector domination to private participation, under democratic framework). The strategy for oil sector has been examined and formulated at national level (macro) and at enterprise (micro) level. Further, industry level issues like demand, supply and pricing have been dealt, along with social objectives which have been identified in terms of macro economic indicators like inflation, balance of payment deficit, energy insecurity, import dependence and fiscal deficit. These problems have been analysed and solutions have been attempted through multipronged approaches.