Finance Minister Nirmala Sitharaman begins to announce the fourth tranche of announcement related to the economic package 2.0

Finance Minister Nirmala Sitharaman begins address

Finance Minister Nirmala Sitharaman begins to announce the fourth tranche of announcement related to the economic package 2.0

FM said that the government is trying to give little assistance to the people

FM said that the government is trying to give little assistance to the people so that they don't suffer in this unfortunate time. 

Atma Nirbhar Bharat is not about making India isolated

FM Sitharaman clarified that Atma Nirbhar Bharat is not about making India isolated. 

PM Modi's goal of self-reliant India is to prepare the country for tough competition

FM said that PM Modi's goal of self-reliant India is to prepare the country for tough competition and face challenges of global value chains.

FM recalls Modi govt's landmark structural reforms

GST,  DBT, IBC, Ease of doing business, PSU banks reforms, and the direct tax changes, UDAY scheme have been landmark reforms - FM Sitharaman

Structural reforms are focus of today’s announcement

FM said structural reforms are focus of today’s announcement.

Today's announcement to be focussed on structural reforms in the sectors that are going to be the new horizon for growth

Today's announcement to be focussed on structural reforms in the sectors that are going to be the new horizon for growth, more investment can be drawn, more production can be clearly marked, and certainly more employment opportunities can be generated in these sectors. - FM

Make in India to be a big contributor for Atma Nirbhar Bharat.

The foundation of Make in India initiative was laid earlier will be a big contributor for Atma Nirbhar Bharat. - FM

Upgradation of industrial infrastructure on cards today

FM Sitharaman to talk about upgradation of industrial infrastructure today.

Relief measures for eight sectors

Govt to make major announcements for eight sectors - coal, minerals, defence production, air space management, airports, MRO, distribution companies in UTs, space sector, and atomic energy. 

Govt to promote new champion sectors

The fourth tranche of announcements will also include champion sectors and the incentive schemes for the promotion of new champion sectors will be launched in sectors such as solar PV manufacturing, advanced cell battery storage, etc.  

Commercial mining allowed in coal sector

FM Sitharaman brings commercial mining in the coal sector, the government's monopoly has been removed to make coal available on market prices.

Govt to spend Rs 50,000 crore for coal evacuation infrastructure

Coal bed methane extraction will be auctioned. Rs 50,000 crore will be spent by the government towards evacuation infrastructure. 

Govt to allow nearly 50 coal blocks for auction

Nearly 50 coal blocks will be available for auction in near future. Upfront payment ceiling will be applicable. 

New allotment for gasification from coal

For gasification, new allotments will be done for new diversified investments. 

Joint auction for mineral sector

A seamless composite mining-cum-exploration-cum-production facility for the mineral sector.  500 mining blocks will be allocated for this and joint auction will take place - FM Sitharaman 

Sale of unused minerals allowed

The government allows the sale of surplus and unused minerals by new mining lease facility. - FM

Joint auction for bauxite and coal mineral blocks

Bauxite and coal mineral blocks will be jointly auctioned to save electricity, boost employment, and develop state of art technology. 

Govt puts restriction on imports of certain weapons

We need to be self-reliant in the defence sector. High tech equipment can be imported but some of the weapons can be made in India. Certain weapons to be restricted from imports and can only be bought from India - FM Sitharaman

Separate budget for domestic capital procurement of weapons

A separate budget will be given for domestic capital procurement so that the armed forces can reduce the import bill - FM Sitharaman

Ordinance factory board to be corporatised

Govt corporatise ordinance factory board, to be listed in stock markets. FM Sitharaman clarified that it will not be privatised.

FDI limit in defence manufacturing increased to 74%

Government increases FDI limit in defence manufacturing under the automatic route from 49% to 74%. Also, time-bound defence procurement process and faster decision making will be ushered - FM Sitharaman

Project management unit to support contract management in defence manufacturing

The government aims to set up a project management unit to support contract management in defence manufacturing. Overhauling trial and testing procedures will also be available.

Govt takes steps for optimum utilisation of airspace

Only about 60% of airspace is freely available. Optimum utilisation of airspace to reduce air distance and fuel consumption is necessary - FM

Govt makes Indian airports better

The government puts 6 more airports on auction, does additional investment in 12 airports for world-class facility.

Up to Rs 2000 crore benefit for aviation sector

Aviation sector to get benefit of Rs 800 crore to Rs 2,000 crore from aircraft maintenance and airframe repair in country from MRO hub. 

Aviation sector to get benifit of Rs 1,000 crore from better utilisation of airports

Utilisation of airspace will bring a total benefit of about Rs 1,000 crore per year for the aviation sector by reducing fuel use and time.

Discoms in UTs privatised

Power distribution companies in Union Territories will be privatised. Tariff will be applicable according to the government's guidelines - FM Sitharaman

Stability in power sector

Privatisation of the discoms will bring stability in the power sector. Will help timely payment too - FM

Government increases viability gap funding in social infrastructure

Rs 8,100 crore outlay for viability gap funding in social infrastructure, by increasing the quantum from 20% to 30%. - FM Sitharaman 

Private space tech cos can now use ISRO's facilities

To provide private players with a level field, the government has allowed the private sector to use ISRO's facilities. The government has aimed to make predictable policy for private players to make them co-travellers for Atma Nirbhar Bharat - FM

Research reactor for production of medical isotopes

Government to establish a research reactor in the PPE model for the production of medical isotopes. India has earned a lot of goodwill from countries where India has exported them. - FM Sitharaman

Govt's measures to leave more cash in hands of people now

Government is taking steps to leave more money in the hands of people now, which will boost demand - FM Sitharaman

FM Sitharaman's address to be at 11 am tomorrow

The last and the fifth tranche of the announcement to be held at 11 am

Soon, private players can too participate in space travel programmes

Private players can also participate in programmes related to space travel - FM Sitharaman

Govt monopoly on coal finally ends

Finance Minister Nirmala Sitharaman today ended the government’s monopoly on coal by allowing commercial mining to introduce competition, transparency, and private sector participation through a revenue-sharing mechanism in the coal sector. In the fourth tranche of the announcement under the Atma-Nirbhar Bharat mission, FM Sitharaman removed the regime of fixed rupee/tonne pricing of coal