Finance Minister’s press conference declare the fourth section of welfare.
Today’s package will be based on structural reforms’ Finance Minister said that today’s package will be based on structural reforms. Nirmala Sitharaman reminds of achievements like DBT, GST, IBC, Ease of Doing Business, Public Sector Banks Reforms, Direct Tax Reforms, Power Sector Reforms, Irrigation, Coal Sector, and Policy Reforms for Fast Track Investment, Make in India People’s thinking has changed. It has become the foundation of self-sufficient India.
Racking of Industrial Park ‘Finance Minister said that land banks, clusters have been identified for upgrading industrial infrastructure. Now using technology, through GIS mapping, 5 lakh hectares of land will be ranked for all industrial parks for future use.
First announcement for the coal sector.
Finance Minister Nirmala Sitharaman said that there would be commercial mining in the coal sector and the government’s corner would end.
- Mining Sector.
500 mining blocks will be auctioned ‘Finance Minister Nirmala Sitharaman said that the improvement in the minerals would be a seamless manner from exploration to production, joint auction, besides changing the definition of captive and non-captive mines. A mineral index will be created. 500 mining blocks will be sold.
- Defense Sector.
The defence sector has to be self-sufficient ‘Nirmala Sitharaman said that the government will notify such weapons, commodities, spares in which imports will be banned and their indigenous supplies should be made.
There will be corporatization of the ordinance factory. There will be no privatization. FDI limit in defence production has been increased from 49 per cent to 74 per cent.
- Civil Aviation Sector
Nirmala Sitharaman said, “There are plans to develop 6 airports. The airport will be developed on PPP model. Air space sector will develop. Only 60 per cent Air space is open now.