FM Sitharaman's 4th Tranche Of The Rs 20 Lakh Crore Stimulus Highlights

Earlier this week, PM Narendra Modi spoke of the Rs 20 lakh crore package dubbed as Aatma Nirbhar Bharat Package. The Finance Minister Nirmala Sitharaman has been informing the nation on the details of this package in tranches. So far, measures have been announced to supporter, business owners, MSMEs, farmers, fishermen, animal husbandry farmers, NBFCs, Discoms, contractors, real estate sector, street vendors, migrants. Tax and EPF related measures were also announced to benefit employers as well as salaried individuals.

The total Rs 20 lakh crore package includes previously announced PM Garib Kalyan Package of Rs 1.7 lakh crore (announced in March).

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May 16, 2020, 5:39 pm IST

FM Sitharaman's press briefing on the 4th Tranche of Stimulus concludes

India to be #AatmanirbharEconomy in the sectors of

✅ Coal
✅ Minerals
✅ Defence production
✅ Civil Aviation: Airports, MRO
✅ Power distribution sector
✅ Social Infrastructure
✅ Atomic sector and
✅ Space #AatmaNirbharBharatAbhiyan pic.twitter.com/74feN70017

— PIB India #StayHome #StaySafe (@PIB_India) May 16, 2020

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

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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.