Top European Commission officials called the proposals submitted by Greece "sufficiently comprehensive to be a valid starting point", thus pushing the country one step closer to receiving a bailout extension. European finance ministers are set to discuss the list shortly, says BBC.
In order to secure a four-month loan extension, Greece needs approval from international creditors.
The government of newly elected Greek Prime Minister Alexis Tsipras wants to clamp down on tax evasion, corruption and inefficiency in order to fund social spending and alleviate what it calls Greece's "humanitarian crisis".
The statement from Commission Vice-President Valdis Dombrovskis and Economic Affairs Commissioner Pierre Moscovici signals the support of one member of the so-called troika that has supervised Greece's financial rescue. The other members are the European Central Bank and the International Monetary Fund.
The statement urges Greece to "refrain from any roll back of measures and unilateral changes to the policies and structural reforms that would negatively impact fiscal targets, economic recovery or financial stability, as assessed by the institutions" of the troika.
President Jeroen Dijsselbloem told a news conference earlier that the list had been received on time, contrary to news reports of a delay. Though he did not give an assessment of the list, he said the Greek government was "very serious" about meeting its reform commitments and had demonstrated an "unequivocal commitment to honour its financial obligations".
Drafts of the list will have been seen by European officials in Brussels as they were being drawn up over the weekend, says BBC.
But aspects of the plan that require new social spending may well be sticking points with creditors, he adds.
BBC correspondent says that ending primary home repossessions and providing free medical
care and electricity for those who cannot pay may become bones of
contention - while the eurozone may insist pension cuts and VAT rises
should continue.
There is almost no time left to negotiate an extension to Athens' 240bn-euro bailout programme, which is due to expire on Saturday. Greece could face insolvency and the danger of needing to quit the single currency, if the extension is not given.
If creditors and finance ministers are content with the list, it will then be put forward to national governments for agreement before Saturday.
