Union Home Minister Amit Shah lauded the key reforms announced by Finance Minister Nirmala Sitharaman under the fourth tranche of 'Aatmanirbhar Bharat' package on Saturday. Shah stated that PM Modi's mantra of 'Reform, Perform & Transform' is the key to India's phenomenal growth in the last 6 years.
Highlighting the Rs 50,000 crores allocated for infrastructure development in the coal sector and the introduction of commercial mining, Shah stated that it is a welcome policy and will bring more competition and transparency. He added that the increase in FDI limit in defence manufacturing and other defence reforms announced will boost Make in India and reduce the country's import burden.
Moreover, the Union Home Minister thanked PM Modi for his 'futuristic decisions' to push aviation sector and applauded the decision to provide Rs 8100 crores of revamped viability gap funding to boos private sector investment in social infrastructure. He also remarked that encouraging private participation in space activities will help them become a co-traveller in India's space journey.
PM Modi‘s mantra of Reform, Perform & Transform is the key of India’s phenomenal growth in the last 6 years.— Amit Shah (@AmitShah) May 16, 2020
I thank PM @narendramodi & FM @nsitharaman for today’s landmark decisions which will surely boost our economy & further our efforts towards Atmanirbhar Bharat.
Rs 50,000 crores for infrastructure development in coal sector and introduction of commercial mining is a welcome policy reform which will bring more competition and transparency.— Amit Shah (@AmitShah) May 16, 2020
I congratulate PM Modi for this unprecedented step to make India self-reliant in coal production.
A strong, secure and empowered India is PM @narendramodi’s top most priority.— Amit Shah (@AmitShah) May 16, 2020
Raising the FDI limit in defence manufacturing to 74% and banning import of selected weapons/platforms with year wise timelines will surely boost ‘Make in India’ & reduce our import burden.
I thank PM Modi for futuristic decisions to push Aviation sector.— Amit Shah (@AmitShah) May 16, 2020
- By easing out restrictions on utilisation of Air Space, our aviation sector will be benefited by about ₹1000 crores/year.
- Tax regime for MRO has been rationalized to make India a global hub for Aircraft MRO.
I also applaud PM Modi ji for today’s decisions like providing ₹8100 cr revamped Viability Gap Funding to boost pvt sector investment in social Infrastructure & encouraging private participation in Space activities so that they can become a co-traveller in India’s space journey.— Amit Shah (@AmitShah) May 16, 2020
The Centre announced structural reforms in eight sectors in the fourth tranche of its economic package amid Coronavirus lockdown. The reforms introduced affect 8 sectors namely - Coal, defence production, minerals, civil aviation (Airports, Airspace Mgmt & MRO), power distribution in UTs, Space and atomic energy. The steps include Commercial mining in the coal sector, Seamless exploration-cum-mining-cum-production regime in the mineral sector, Corporatisation not privatisation of Ordnance Factory Board, overhauling of Airspace management, making India an MRO hub and auctioning of airports, privatisation of Power distribution in Union territories, Rs. 8000 crores to revamp Social infrastructure, Private participation boost in Space exploration and several reforms in atomic sector.