16 May 2020

Finance Minister Nirmala Sitharaman Today's Speech At A Glance

Union Minister for finance Nirmala sitharaman press conference today was mainly based on structural policy reforms in growth oriented sectors and government liberalisation in crucial sectors for investment for production and more job opportunities.

The Minister clarified that aatmnirbhar Bharat abhiyan is not going to isolate India with other various countries of the globe.  

Today the government had looked into the reforms for 8 sectors that was coal, mineral, defence production, airspace management, airports, MRO, distribution companies in Union Territories, space Sector and atomic energy.

Today's press meeting of Finance Minister Nirmala sitharaman has been major focus on air travel which will be made cheaper in efforts so that Indian civilian will fly more and will be more efficient.  More and more Indian air space would be utilised.

The government also shared new two technique in mining as now the government has announced that there will be commercial mining in coal sector and now the government Monopoly will totally be removed to make coal available on the market price.

Finance Minister also added that discoms in metros will be privatised and load shedding will face penal action.  Discom actions will be streamlined to improve accountability.  

To make India more aatma nirbhar the government plans to privatise airspace as well as now the government will be boosting private participation in space activities.

The government also plans to provide predictable policy and regulatory environment to private players in space programs. 

The government will be bringing in policy reforms to fast track investment project development cell in each industry and to prepare investable projects for net with investors in Central and state government.

To increase the upgradation of industrial infrastructure the scheme to bring in investors for Central and state governments the government will implement this came under industrial cluster upgradation of common infrastructure facilities and connectivity.

The union government has also plan to increase the FDI limit in defence manufacturing under the automatic route from 49% to 74%.

In the field of atomic Energy reforms the government plans for research reactor to be done:- 
Mode for medical isotopes PPP mode facility for eradication technology for food startup ecosystem to be linked with nuclear sector.
The government also tend to get private sector co-pilot seat in space Sector where regulatory is have to be extended to private firms.
Private firms can also use ISRO facilities space exploration opened for private players and liberal geo spatial policy will be introduced.

Private sector investment in social infra structure of Government of India policies is boosted through revamped funding scheme with Rs. 8,100 Crore outlay.

Now the government has been looking after for new wings for aviation as 6 more airports will be now up for auction to private players.

The auction of the airports will bring an additional investment room and expected money from this will be generated at Rs 13000 crores. 

Now a space to be given will reduce flying time and save fuel airspace curves will be removed and green efforts to be boosted.

Now state Monopoly of the coal has now been wiped off and now private players are allowed to participate in coal distribution and coal liberalisation.  

In this nearly 50 blocks will be offered.  There will be no eligibility condition and only upfront payment with the ceiling will be approved and in this any party can bid.

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