'Reform, Perform & Transform': Smriti Irani & Piyush Goyal hail reforms announced by FM

Union Textile Minister Smriti Irani hailed the 8 sectoral reforms announced by Finance Minister Nirmala Sitharaman on Saturday. Taking to Twitter, Smriti Irani thanked Union Finance Minister Nirmala Sitharaman and PM Modi, stating that the mantra of 'Reform, Perform and Transform' through structural reforms in science and technology, mineral wealth, defence and energy sector will help in creating an 'Aatma Nirbhar Economy'.

Furthermore, Railway Minister Piyush Goyal stated that the reforms will give a fillip to the economy, boost job creation and benefit the poor, farmers, labourers and the MSMEs.

READ: Centre rolls out structural reforms in 8 Indian sectors in its fourth economic tranche

Centre announces 8 sectoral reforms

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 the atomic sector.

READ: Defence Sector gets 'Make in India' boost in Centre's fourth tranche of Stimulus 2.0

PM Modi's Rs 20 lakh crore booster

On Tuesday, PM Modi announced a Rs 20 lakh crore economic package - including the previous monetary package and the liquidity measures announced by RBI till date (amounting to 10.26 lakh crore) to kickstart Indian economy's growth. He has also stated that the lockdown will be extended post-May 18, but will have relaxed restrictions. The MHA will announce guidelines of Lockdown 4.0 on Sunday.

READ: Finance Minister introduces commercial mining in Coal sector; Rs 50,000 cr to be invested

READ: Defence Sector gets 'Make in India' boost in Centre's fourth tranche of Stimulus 2.0