Finance Minister Announces Fresh Relief Package
On Tuesday, Prime Minister Narendra Modi announced a package of 20 lakh crore rupees to speed up the economy amid Corona crisis. Since then, Marathon press conference of Finance Minister Nirmala Sitharaman is going on.
Finance Minister Nirmala Sitharaman is once again holding a press conference on Saturday. This is the fourth consecutive day when Nirmala Sitharaman held a press conference regarding the relief package.
3 major steps have been taken for civil aviation sector. Measures are being taken to save time and fuel. This work will be done within two months. This will save about Rs 1,000 crore. 6 more airports will be auctioned. The Airport Authority of India will do this work. In this way, the auction of 12 airports will be completed.
In total 12 airports will invest 13 thousand crores. Please tell that the auction of 6 airports is already in process. Not only this, the preparation of 6 airport auctions for the third phase is going on. There will be an effort to develop an MRO in India for maintenance and repair.
-Defense production will be. The government will notify such weapons, commodities, spares in which imports will be banned and their indigenous supplies will be made. The government will also bring a separate budget. FDI limit in defense production has been increased from 49 percent to 74 percent. Ordinance factory will be corporateized.
Finance Minister said that there will be improvement in the mineral sector also. There will be a seamless process from exploration to production. There will be a joint auction. In addition, the definition of captive and non-captive mines will change. A mineral index will be created.
– The Finance Minister said that we come to the world’s largest coal storage countries but still cannot exploit the capacity. It will be changed so that the open auction will take place. This will lead to private sector entry. The country’s economy will get a boost. About 50 blocks will be put up for auction. The mines of Coal India Limited will also be given to the private sector. There is no major eligibility condition. Commercial entry in the coal sector will lead to more mining and government monopoly will end ..
– Finance Minister said that the upgrading of industrial infrastructure, coal, minerals, defense production, airspace management, airports, MROs (maintenance, repair-overhaul), power distribution companies in the Union Territories, reforms in the space sector and nuclear power Will be announced
– The Finance Minister said that Make in India has changed the thinking of people for policy reform fast track investment. It has become the foundation of self-sufficient India. We have to make our products reliable so that the whole world believes.
– The Finance Minister said that India will be made an attractive investment center.
– Finance Minister said that today’s announcement will be linked to structural reform.
– The Finance Minister said that PM Modi has an excellent record for reforms. Today direct transfer is giving benefits to people. Tax has become easier with GST.
