Atmanirbhar Bharat Mission announcements of Day 4 led by Finance Minister Nirmala Sitharaman are out. Finance Minister began with describing Atmanirbhar Bharat Mission said that it does not mean as a part of Isolatory or protectionist policy, but is to make people rely on own strengths. Finance Minister said that as PM Modi has announced 20 Lakh Crores package today many sectors need policy clarification and today we're bringing announcements for eight sectors, said FM.
By allotment of package Government is providing boost to these sectors to stand competitive to others, not providing help, but support it means. In past also through several measures including DBT, Direct Taxation reforms, Power sector reforms, Coal sector, water & irrigation sector reforms, Govt of India has supported these sectors.
Aatmanirbhar Bharat Package Day 4
Structural reforms are among today’s announcements, said FM. On Fourth day structural reforms are being announced for these eight sectors,- Coal, Minerals, Defence productions, Airspace management (Civil Aviation), Power Distribution, Space, Atomic Energy.
Effort towards Aatmanirbhar Bharat-
- Fast Track Investment Clearance through empowered groups of secretaries
- Project development cell in each Ministry
- Ranking of states on investment attractiveness.
- Incentive schemes for promotion of new champion sectors .
Upgradation of Industrial Infrastructure-
- Availability of Industrial land with the help of GIS mapping.
- Industrial Cluster upgradation for states through Challenge mode.
Aatmanirbhar Bharat Package Day 4 New Announcements to Sectors
- Bringing commercial mining of coal, would ensure more coal availability at market price.
- Regulation are required when needed
- 50 thousand crores for evacuation of infrastructure in coal. Those who complete beforehand will be given incentives. Private sectors will be allowed even in CIL coal.
- Auction of partially explored mines.
- Introduction of seamless composite exploration cum mining cum production
- 500 Mining blocks would be offered through open and transparent auction process.
- Introduction of Joint Auction of Bauxite and Coal mineral blocks.
- To remove distictoons between captive and non-captive mines.
- Ministry of mines is in process of developing.
Make in India for Self Reliance in Def production- Notify a list of weapons/ platforms for van on import with year wise timelines.
Indigenisation of imported spares.
- Separate budget provisioning for domestic capital procurement.
- Will help reduce huge Defence import bill.
- Improve autonomy, accountability and Efficiency in Ordnance supplies by Corporation of Ordnance Factory board for efficiency. Corporatisation doesn’t mean Privatisation, Finance Minister emphasized. To make reliable.
- FDI limit in the def manufacturing under automatic route will be raised from 49% to 74%
- Time bound defence Procurement process and faster decision making will be ushered in by – setting up of a Project
- Management Unit, Realistic setting of General Staff, for swift and fast trials.
- Air Space Management- Only 60% of the Indian Airspace freely available.
- Restrictions in utilization of Indian Air Space will be eased, for civilian flying becomes for efficient.
- Will bring benefit of about Rs 1000 Crores per year for aviation sector.
- More world class Airports through PPP.
- Investment of PPP in 12 Airports in two phases.
Tax Regime for MRO ecosystem has been rationalized. Maintainance cost for airlines will be reduced. India to become a global hub for Aircraft Maintenance, Repair and Overhaul (MRO). The tax regime for the MRO ecosystem has been rationalized. Aircraft component repairs and airframe maintenance to increase from Rs 800 crores to Rs 2000 crores in 3 years. Indian private sector will be a co-traveller in India's space sector journey. Will provide a level-playing field for private companies in satellites, launches & space-based services.
The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities. Future projects for planetary exploration, outer space travel, etc. to be open for the private sector.
- Tariff Policy reform will help Consumers' right, Promote industry and sustainability of sector.
- Boosting private sector investment in Social, Infrastructure through revamped Viability Gap and Funding Scheme of Rs 8100 crores
- Privatisation of distribution in Union Territories - sub-optimal performance of power distribution & supply, power departments/utilities in Union Territories will be privatised: Finance Minister Nirmala Sitharaman.
- A Tariff policy with reforms will be released, including consumer rights, promotion of industry and sustainability of sector.
Atomic Energy Sector-
- Atomic Energy-related reforms; link India's robust start-up ecosystem to the nuclear sector - Technology Development cum Incubation Centres will be set up for fostering synergy between research facilities and tech entrepreneurs, said Finance Minister Nirmala Sitharaman.
Should Read- Aatmanirbhar Bharat Package for MSME Sector
Note- The last tranche of 20 Lakh Crores Economic Package announcement by Finance Minister Nirmala Sitharaman will be held at 11 am tomorrow.