It was ex PM Narsimha Rao who initiated reforms and MMS just followed his guidance.
MMS signed Dabohal-Enron deal in a hurry in 1993 which bankrupted Maharshtra electricity board and put enormous presure on the India's foreign exchnage.
In this tenure, MMS has not sold a single public sector undertaking- as compared to NDA government which was reducing government role in industries.
MMMS is a good babu- he will do what he is told. He does not have a vision. Nuclear deal fiasco is a good example. He did not discuss this with NDA, not even his own alliance partners. He just wants people to believe that what he is doing is right. Democracies don't run that way.