New Airport, Opening Air space & Defense FDI know FM Stimulus package on 16 May 2020
Fourth package by FM focusses on measures for self-reliant India. “We are not looking inwards. Its about making India strong to face global challenges. Policy simplification, decongesting sectors for necessary growth boost. Deep systemic reforms”, Says FM
FM all set to announce next tranche of economic relief reforms. This time for NEW HORIZONS OF GROWTH
PM had said that we should prepare for tough competition. When we speak of #AatmaNirbharBharat, we are not looking inwards, it is not isolationist policy, it is making India rely on its strengths, ready to face global challenges
Because of #COVID19 lockdown, it seems that #Budget2020 has been a long time ago, it has just been presented in Feb 2020, just before that, we announced National Infrastructure Investment Fund FM
Today’s announcements focussing on structural reforms in new sectors, where growth is possible and employment is generated, says Finance Minister Nirmala Sitharaman
Many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities & bring transparency. Once we decongest sectors, we can boost the sector, for growth and jobs
Today’s announcements are focused on structural reforms. Today’s reforms to focus on Coal, Minerals, Defence Production, Airports, MROs, space, power distribution
1) Govt. to bring in Policy Reforms to fast-track Investment; Project Development Cell in each Ministry to prepare investible projects, coordinate with investors and Central/ State Governments
2) Scheme will be implemented in States through Challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity
3) Coal is a government monopoly. That monopoly is what is being removed. Government will introduce competition, transparency and private sector participation in the coal sector
4) Introduction of Commercial Mining in Coal Sector, Investment of Rs 50,000 crores, Liberalised Regime in Coal Sector
5) Enhancing Private Investments in the Mineral Sector: Structural reforms to boost growth, employment and bring state-of-the-art technology
6) Enhancing Self Reliance in Defence Production : ‘Make in India’ for aatmanirbhar bharart in Defence Production
7) FDI limit in the defence manufacturing under automatic route will be raised from 49% to 74%: #Aatmanirbhar Bharart in Defence.
8) Efficient Airspace Management for Civil Aviation: Restrictions on utilisation of the Indian Air Space will be eased so that civilian flying becomes more efficient
9) More World-class Airports through #PPP: Another 6 airports will be put out for the third round of bidding.
10) AatmaNirbhar Economy in Civil Aviation Sector. India to become a global hub for Aircraft Maintenance, Repair and Overhaul (#MRO)
11) A Tariff Policy laying out the reforms in
- Consumer Rights
- Black small square Promote Industry
- Black small square Sustainability of Sector
12) Boosting private sector investment in Social Infrastructure through revamped Viability Gap Funding Scheme – ₹8,100 crore.
13) Power Departments / Utilities in Union Territories to be privatised.