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Nirmala Sitharaman's Key Announcements On Five Sectors
By: Tupaki Desk | 16 May 2020 1:29 PM GMT
Union Finance Minister Nirmala Sitharaman addressed the media for the fourth consecutive day to brief about various reforms and packages aimed at various sectors and filed.
Nirmala Sitharaman made five key announcements today in her press briefing which aims at the lion share of Private investments in various sectors which is quite new for India.
She said that in a bid to see that the Discom functions will be streamlined to improve accountability, the Discoms will be privatized in the Union Territories. The central government announced Rs 90,000 crores to lend a helping hand for the Discoms which are suffering from financial burden.
The Finance Minister said that to encourage the Private Sector the monopoly of the coal will be removed and with this, any part can now bid for a coal block and sell in the open market. She said that 50 blocks were privatized as part of this to boost the economy.
Any country in the world relies on equipping the latest Defense equipment and India is not an exemption from this. To boost Make in India and encourage accountability the FDI limit in the defence manufacturing was increased to 74 percent which was 49 percent earlier.
To boost growth, employment, the Union Finance Minister said that the government decided to offer 500 mining blocks and the entire process of this will entirely be transparent and on the grounds of the auction system.
Nirmala Sitharaman also made some key announcements on the Civil Aviation Sector and in order to provide world-class facilities, six more airports will be Privatised. Earlier 12 airports were given to the private sector and more investments might be poured in these airports. In two phases of investments, 13,000 investments will be made in the sector.
Nirmala Sitharaman made five key announcements today in her press briefing which aims at the lion share of Private investments in various sectors which is quite new for India.
She said that in a bid to see that the Discom functions will be streamlined to improve accountability, the Discoms will be privatized in the Union Territories. The central government announced Rs 90,000 crores to lend a helping hand for the Discoms which are suffering from financial burden.
The Finance Minister said that to encourage the Private Sector the monopoly of the coal will be removed and with this, any part can now bid for a coal block and sell in the open market. She said that 50 blocks were privatized as part of this to boost the economy.
Any country in the world relies on equipping the latest Defense equipment and India is not an exemption from this. To boost Make in India and encourage accountability the FDI limit in the defence manufacturing was increased to 74 percent which was 49 percent earlier.
To boost growth, employment, the Union Finance Minister said that the government decided to offer 500 mining blocks and the entire process of this will entirely be transparent and on the grounds of the auction system.
Nirmala Sitharaman also made some key announcements on the Civil Aviation Sector and in order to provide world-class facilities, six more airports will be Privatised. Earlier 12 airports were given to the private sector and more investments might be poured in these airports. In two phases of investments, 13,000 investments will be made in the sector.
