<P> Structural adjustment programmes ( SAPs ) consist of loans provided by the International Monetary Fund ( IMF ) and the World Bank ( WB ) to countries that experienced economic crises . The two Bretton Woods Institutions require borrowing countries to implement certain policies in order to obtain new loans ( or to lower interest rates on existing ones ) . The conditionality clauses attached to the loans have been criticized because of their effects on the social sector . </P>
structural adjustment policy was introduced by india on taking loan from
International Monetary Fund World Bank