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.
Comments
what you know about HAJJ, first you try to learn your religion man you maron...you know in veda says there is no image of GOD, dont follow donkey, follow hindu scripture, first of all dont know what is hindu religion and goes to show finger on MUSLIM, look at you face in mirron and ask yourself do you following GODs religion or Devil religion...who is your god bootha or pure GOD.
dont act like maron of hindu community, think before comment, any thing happens to hindu then they blame muslim, what a joke,,there is saying that 80% dogs are worried about 14% lion in forest..haha
yo naresh, first try to learn veda the hindu scripture. which says there is no image of god..if you follow poojari then go to hell, who told muslims are not allowed, did you went any time to masjid to see how it is operated. you maron always behind bar and worship stone, how will your brain develop..first try to become good hindu then you can point muslim.
In most of the masjids having seperate place for woman also... better at least provide seperate way for hindu woman in temples to avoid mingling .... above judgement is on internal issue of hindu custom issue , why dragging muslims to it ?
According to North states' people and BJP people, there is a chance of flood again in Kerala, becuase SC challenged GOD. Those north state fools said that Kerala Flood was aftermath of Sabarimala verdict. Even RBI official backs the statement
Actually 99 percent of women in Kerala following the rule. They are waiting for their turn. Its like hajj. You people wont understand that. Some fools filed petition in order to destroy Hindu religious customs and traditions and muslim lawyer advocated for that. Now everything perished
Silly issue got more hype.
All bloody activists wants to destroy Hindu religion thats it. They won't raise voice against inequalities in Islam. They won't question their customs.
So called activitsts not protesting against inequalities among muslims. Why muslim girls cant enter in to mosque for offering namaz. Why they have seperate one.
Gender equality won
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