TNI Bureau: In the fourth tranche of economic packages, Finance Minister Nirmala Sitharaman announced structural reforms in 8 key sectors to generate more investment and jobs while boosting the economy.
👉 Need to decongest sectors to boost economy. Policy simplification is needed.
👉 Upgradation of Industrial Infrastructure.
👉 Reforms in 8 Sectors – Aircraft MROs (Maintenance, Repair, and Overhaul), Discoms, Coal, Minerals, Defence Production, Airspace, Atomic Energy, Space.
👉 Commercial mining of Coal on a revenue sharing basis to be allowed for 50 Blocks. Move to end import of costly coal. Govt monopoly removed.
👉 Rs 50,000 crore for Coal Evacuation infrastructure.
👉 Incentives for production of coal before the deadline.
👉 500 mining blocks would be offered through an open and transparent auction process.
👉 Joint auction of Bauxite & Coal mineral blocks will be introduced to boost Aluminum industry.
👉 Ordnance factories will be corporatised to improve transparency.
👉 FDI limit in defence manufacturing under automatic route raised to 74% from 49%. Time bound defence procurement process to be initiated.
👉 Enhancement and development of 12 Airports across the country on PPP basis. 6 more Airports will be up for auction soon. Rs 13,000 crore for upgradation of Airports.
👉 Restrictions on utilisation of Indian airspace to be eased for civilian flights; Rs 1,000 crore per year benefit to aviation sector.
👉 India to become a global hub for Aircraft Maintenance, Repair and Overhaul.
👉 ‘Make In India’ focus for Defence Production; import of some weapons to be banned. Indigenisation of some imported spares.
👉 Restrictions on utilisation of the Indian Air Space will be eased so that civilian flying becomes more efficient.
👉 India to become a global hub for Aircraft maintenance, repair and overhaul.
👉 Power Companies in the Union Territories to be privatised. Power distribution reforms to ensure consumer rights. New tariff policy for power discoms.
👉 Rs 8,100 crore for social infrastructure projects. 30% viability gap funding for social infrastructure.
👉 More private participation in space sector. Private space players can use ISRO’s facilities.
👉 Research Atomic Reactor in PPP mode for production of medical isotopes & encourage affordable treatment of cancer and diseases such as Covid-19.
👉 Facilities to be set up on PPP mode to use Irradiation Tech for food preservation.