May 16, 2020, 5:39 pm IST
FM Sitharaman's press briefing on the 4th Tranche of Stimulus concludes
FM completes announcements on the 4th tranche of stimulus measures to support the economy amid the COVID-19 pandemic. Today's focus was on structural reforms of 8 sectors.
May 16, 2020, 5:33 pm IST
5th Tranche to be announced at 11 am on 17 May
A media briefing to announce the fifth and last tranche of measures under the Atmanirbhar Bharat Package will be held at 11 am on Sunday.
May 16, 2020, 5:30 pm IST
Startup participation in nuclear sector
To link India's start up ecosystem to nuclear sector, Technology Development cum Incubation Centres will be set up for fostering synergy between research facilities and tech-entrepreneurs.
May 16, 2020, 5:28 pm IST
Irradiation technology in food preservation
Facilities will be established in PP mode to use irradiation technology for food preservation to compliment agricultural reforms and assist farmers.
May 16, 2020, 5:26 pm IST
Atomic Energy reforms for affordable treatment of Cancer, other dieseases
A research reactor will be established in PPP mode for the production of medical isotopes that promote the welfare of humanity through affordable treatment for cancer and other diseases.
May 16, 2020, 5:19 pm IST
Outer space travel will be opened to private sector
Future projects for planetary exploration, outer space travel, etc will be open for private sector. Liberal geospatial data policy for providing remote-sensing data to tech-entrepreneurs.
May 16, 2020, 5:17 pm IST
Private sector will be allowed to use ISRO facilities
Govt to provide level playing fields for private companies in satellites, launches and spacebased activities. Private sector will be permitted to use ISRO faciliteis to improve their capacities.
May 16, 2020, 5:14 pm IST
Rs 8,100 Crore through VGF reform to boost private sector investment in Social Infrastructure
The government will enhance the quantum of the viability of Gap Funding up to 30% each of the Total Project Cost as VGF by Centre and State/Statutory bodies. The total outlay of the VGF scheme to boost private sector investmetn in Social Infrastructure.
May 16, 2020, 5:04 pm IST
Power Distribution In UTs to be Privatised
Power distribution companies (Discoms) in Union Territories will be privatised. Tariff policy reforms will be made so that Discom inefficiencies do not become a burden on consumers. Load-shedding to be penalised to ensure adequate power supply.
May 16, 2020, 5:00 pm IST
India to become Global Aircraft MRO Hub
For aircraft repairs and maintenance to increase from Rs 800 crore to Rs 2,000 crore in 3 years. If India becomes an MRO hub, it will benefit civil as well as defence aircraft in bringing down maintenance costs, FM Sitharaman said. Tax regime for MRO ecosystem has been rationalised for this purpose.
May 16, 2020, 4:57 pm IST
12 More Airports for Auction on PPP basis
AAI has given 3 out of 6 airports for operations and maintenance on Public-Private Partnership (PPP) basis. 6 more airports have been identified for the second round. The bidding process will commence immediately. Another 6 airports will be put for bidding in third round.
May 16, 2020, 4:54 pm IST
Rs 1,000 Crore Benefit For Aviation Sector from Efficient Airspace Management
Restrictions on utilisation of the Indian Air Space will be eased to make civil aviation efficient. Travellers will reach destination faster and airlines will use less fuel. It will also be a positive impact on the environment.
May 16, 2020, 4:50 pm IST
Fast decision making in defence procurement
To improve the decision making speed in defence procurement process, a Project Management Unit (PMU) to support contract management will be set up. Realistic timelines will be set on General Staff Qualitative Requirements of weapons/platforms.
May 16, 2020, 4:46 pm IST
FDI Limit Increased In Defence Manufacturing
Foreign Direct Investment (FDI) limit in defence manufacturing under the automatic route will be raise from 49% to 74%
May 16, 2020, 4:45 pm IST
Corporatisationn of Ordnance Factory Board
To improve autonomy, accountability and efficiency in Ordnance Supplies.
May 16, 2020, 4:41 pm IST
"Make in India" for defence production
To become self-reliant in defence production, a list of weapons/platforms for ban on import with year wise timelines will be notified. This will help reduce huge defence import bill, FM said.
May 16, 2020, 4:34 pm IST
Stamp duty for mining lease to be rationalized
at the time of awarding mining leases, stamp duty payable will be rationalised.
May 16, 2020, 4:33 pm IST
Mineral index for minerals
The ministry of mines is in the process of developing a Mineral index for different minerals.
May 16, 2020, 4:32 pm IST
Joint auction of Bauxite and Coal mineral blocks
To enhance competitiveness in aluminium industry.
May 16, 2020, 4:31 pm IST
Private investments in mineral sector
Seamless composite exploration-cum-mining-cum-production regime will be introduced to remove uncertainty for investors. 500 blocks would be offered through open and transparent auction process.
May 16, 2020, 4:27 pm IST
Rs 50,000 Crore Investment in Coal Sector to become self reliant in coal production
Entry norms will be liberalised. Even partially explored blocks will be auctioned. The private sector will be allowed in participation for coal exploration.
Coal gasification/liquefication will be incentivised
May 16, 2020, 4:22 pm IST
Commercial Mining in Coal Sector
Govt will introduce competitions, transparency and private sector participation in the Coal Sector.
Revenue sharing mechanism will be introduced and nearly 50 blocks will be offered immediately.
May 16, 2020, 4:21 pm IST
Policy reforms to fast-track investment in India
To make India Atmanirbhar fast track investment clearance will be enable through empowered group of secretaries. These reforms will focus on 8 sectors- coal, minerals, defence production, airspace management, airports, Maintenance, Repair, Overhaul (MRO) in aviation, power distribution companies in UTs, space, atomic energy
May 16, 2020, 4:18 pm IST
All industrial parks will be ranked in 2020-21
To promote new investments and making information available on Industrial Information System (IIS) with GIS mapping. 3376 industrial parks/estates/SEZs in 5 lakh hectares mapped on IIS and these will be ranked in the current financial year.
May 16, 2020, 4:15 pm IST
Upgradation of Industrial Infrastructure
A scheme will be implemented in states through challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity.
May 16, 2020, 4:11 pm IST
4th Tranche to focus on structural reforms: FM
FM Sitharaman said to build a self reliant country many sectors need policy simplifications. She recalls already taken steps towards this: Direct Benefit Transfer (DBT), Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC).
May 16, 2020, 4:08 pm IST
Recap: Announcements made in 3rd Tranche
A Rs 1 lakh crore agriculture infrastructure fund
Rs 10,000 crore scheme for micro food enterprises.
Rs 20,000 crore allocation for fisheries
Rs 15,000 crore for animal husbandry infrastructure
Amendment to the Essential Commodities Act
May 16, 2020, 4:04 pm IST
FM Sitharaman Press Briefing Begins
Press Conference by Union Finance Minister
Nirmala Sitharaman begins on Aatma Nirbhar Bharat Package at National Media Centre, New Delhi.
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