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Package: Finance Minister announces reforms in 8 sectors

Saturday, May 16, 2020 • Telugu Comments

Package: Finance Minister announces reforms in 8 sectors

As part of making the economy resilient, Finance Minister Nirmala Sitharaman on Saturday announced the fourth tranche of reforms. Calling them "structural reforms", she announced some major measures in these sectors: Coal, Minerals, Defence Production, Civil Aviation, Power Distribution, Social Infrastructure, Atomic sector, and Space.

Here we bring you the key highlights of the FM's announcements:

The government will bring in policy reforms to fast-track investments. A Project Development Cell in each Ministry will prepare investible projects, coordinate with investors and Central/ State Governments.

Introduction of Commercial Mining, investment of Rs 50,000 Cr, liberalised Regime in Coal Sector announced.

To enhance private investments in the Mineral sector, structural reforms to boost growth, employment and bring state-of-the-art technology will be ensured.

FDI limit in the defence manufacturing under automatic route will be raised from 49% to 74%.

More world-class Airports through public-private partnership mode to come up. Another 6 airports will be put out for the third round of bidding.

Restrictions on the utilisation of the Indian Air Space will be eased so that civilian flying becomes more efficient.

Steps will be taken to make India a global hub for Aircraft Maintenance, Repair and Overhaul.

Power Departments/Utilities in Union Territories will be privatized.

A decision to boost private sector investment in Social Infrastructure through revamped Viability Gap Funding Scheme with a total outlay of Rs 8,100 Cr has been taken.

To boost private participation in Space activities, the government will provide a predictable policy and regulatory environment to private players.

The government will establish research reactors in public-private partnership mode for the production of medical isotopes to promote the welfare of humanity through affordable treatment for cancer and other diseases.

Note: Source of above information is PIB India.

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