New Delhi, May 17: Spelling out the government’s fourth tranche of initiatives towards achieving Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, Union Finance Minister Nirmala Sitharaman on Saturday announced significant structural reforms in eight sectors of the economy — coal, minerals, defense production, aviation, power distribution in Union territories, space and atomic energy.
Addressing her fourth and the second-last press conference, Sitharaman said crucial sectors such as coal production and exploration, defence production and space would see an increased participation from private entities.
Coal sector:
In the realm of coal exploration, the government has decided to liberalise the entry norms for private entities, which would mean that any interested party could bid for a coal block and sell it in the open market. The minister said that the government would do away with all the eligibility conditions at the time of bidding for a coal block, except requiring an “upfront payment with a ceiling.”
Nearly 50 coal blocks would be offered to private players immediately, revealed Sitharaman.
She further said that Rs 50,000 crore would be spent by Centre in creating ‘coal evacuation’ infrastructure, which would expedite the transport of mined product to the destination.
Defence sector:
In defence production, Sitharaman revealed that the government would raise the foreign direct investment (FDI) limit in the sector from current 49 per cent to 74 per cent. Further, the government would also work towards corporatising the ordnance factory boards. “Corporatising doesn’t amount to privatization,” added Sitharaman.
In a bid to boost indigenous production of defence products and gave an impetus to Make in India, Sitharaman said that the government was in a process of notifying a list of weapons/platforms for an import ban with year-wise timelines.
These decisions would also help in reducing huge import bills, the finance minister said.
Privatisation of electricity:
In another announcement that could have an effect on electricity charges in the union territories, Union Finance Minister Nirmala Sitharaman announced on Saturday that power departments and utilities in all the centrally administered territories would be privatised.
Sitharaman said that the proposed move would lead to better service to consumers and improvement in operational and financial efficiency in distribution.
The finance minister said that decision was guided by 'sub-optimal' utilisation of performance of power distribution and supply'.
She said that the move to that effect would provide a model for emulation by other utilities across the country, in what could be an indicator of what's in the pipeline for utilities in other states as well.
Sitharaman said that the privation reform was in line with the tariff policy reforms and would help in enhancing consumer rights, promote industry and improve the overall sustainability of the sector.
Space sector:
Sitharaman also announced the opening up of the space exploration sector for private players. Till date, the government-run Indian Space Research Organisation (ISRO) has held a monopoly on all activities concerning space exploration and satellite launches.
The Indian private sector will be a co-traveller in India's space sector journey, said Sitharaman, while announcing a series of structural reforms in eight crucial areas of the economy. The Union Finance Minister was addressing her fourth press conference in as many days, as a follow-up towards realising Prime Minister Narendra Modi's vision of 'atmanirbhar Bharat', which was spelled out in his video address on May 12.
Sitharaman said that the reforms in the space sector will provide a level-playing field for private companies in satellite launches and space-based services.
She said that the private sector would be allowed to use ISRO facilities and other assets to improve their capacities. Stating that the government would provide predictable policy and regulatory environment to private players, Sitharaman also disclosed that future projects for planetary exploration and outer space travel among others would be opened up for private entities.
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THERE IS ALREADY A FILM CALLED "THE MESSAGE" DO YOU HAVE PATIENCE TO WATCH?
THERE IS ALREADY A FILM CALLED THE MESSAGE
Let this jungli ignorant ask his PAKODA Janata Party (PJP) LEADER who financed the film Padmavat.
Prophet Muhammed is the last and final messenger of ALLAH, Who conveyed the message of Oneness of GOD almighty who is worthy of Worship....God sent many prophets including Abraham, moses, jesus and many others to convey this message prior to the last prophet of Mankind... Prophet Muhammad pbuh is not just for muslims but he came to convey to the whole of Mankind. Many people in arabia were worshipping manmade gods like idols, statues, images and animals instead of TRUE ONE GOD (which is NA TASYA PRATIMA ASTI).
Quran is the book revealed to Prophet Muhammad pbuh which is unchanged since its revelation... I request non muslims to Open up the QURAN ( U can also try quranproject online) to understand WHO GOD is? If U are honest in looking for the CREATOR of all that exist ... U will surely find him . Then
It is very EASY to find out how such criminal evil minded politicians are PLAYING in your minds... to keep away from the REAL issues of the SOCIETY>>>
A film already exists. The Message. Plz watch it.
Oye Minister Ji, Y Prophet Mohammed is coming into this picture. Dont dare to create communal voilence by shitting thru your mouth. Tomorrow you will say about "Jesus" too. Blast the guy who made padmavati, dont create communal tension by commenting non-related matter here. Indian public wasting money on films, if public stops watching no film will make money & every star will be like a common man. We as people should understand. Better dont watch any movie, let all starts come to common level.
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