Prime Minister Narendra Modi lauded the measures announced by Finance Minister Nirmala Sitharaman on Saturday aimed to initiate structural reforms in various sectors of the economy. On Twitter, PM Modi said that the measures and announcements will "create many business opportunities and contribute to economic transformation".
Important sectors such as coal, minerals, defence, aviation, space and atomic energy have been covered in the announcements by the FM today. The measures and reforms announced will create many business opportunities and contribute to economic transformation.— Narendra Modi (@narendramodi) May 16, 2020
Unveiling the fourth tranche of a massive stimulus package pledged by the Modi government to rescue the Indian economy from the devastating fallout of the Coronavirus pandemic, Nirmala Sitharaman announced structural reforms in eight sectors —
coal, mining, aerospace, defence production, social infrastructure, power distribution in Union Territories, Space, and atomic energy.
The steps include allowing commercial mining in the coal sector, a seamless exploration-cum-mining-cum-production regime in the mineral sector, corporatisation 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, opening up of space exploration for private players and several reforms in the atomic energy sector.