FM Nirmala Sitharaman Press Conference highlights: Unveiling the fourth tranche of the Covid economic measures as part of the ‘Atmanirbhar Bharat Abhiyan (Self-reliant India Mission’), Union Finance Minister Nirmala Sitharaman’s announcement on Saturday focused primarily on eight sectors — coal, minerals, defence production, airspace management, airports, MRO, power distribution companies in UTs, space, and atomic energy.
“The structural reforms being announced today will impact those sectors which are new horizons of growth, unleashing new investment, boosting production and creating jobs,” Sitharaman said.
Among the major decisions, Sitharaman said the government monopoly in the coal sector would be removed to allow commercial mining. She also said the foreign direct investment (FDI) limit in defence manufacturing would be raised from 49 per cent to 74 per cent under the automatic route. (Read highlights of FM Nirmala Sitharaman’s speech)
Sitharaman said the government would allow private players to access the space sector, including ISRO’s facilities, by providing a level-playing field in satellites, launches and space-based services. Further, future projects for planetary exploration, outer space travel, etc would be opened to the private sector. (Follow coronavirus India live updates)