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FM focused more on Structural Reforms on the fourth day of economic details package

Finance Minister Nirmala Sitharaman on the consecutive fourth day focused more on Structural Reforms. The eight major sectors that will undergo structural reforms are Coal, Minerals, Defence Production, Airports, Airspace Management, MRO, Power distribution companies in Union Territories, Space and Atomic Energy.
Structural Reforms

Central Government is planning to bring commercial mining of coal on revenue sharing basis by removing the Government monopoly in coal mining. India has the third largest value coal availability in untapped mines. Government is planning to invest Rs 50,000 crore for evacuation infrastructure and also to create diversified opportunities in the coal sector. 500 Mining blocks will be offered through an open and transparent auction process that enhances the investments in Mineral Sector. There will be a Liberalized regime in the coal sector by implementing ease of doing measures.

Government is going to introduce Joint auction of bauxite and coal mineral blocks to enhance aluminium industry's competitiveness leading to better efficiency in mining and production. Enhancing Self-reliance in defence production.In Civil aviation there is a reduction in flying cost of  Rs 1000 crore. Tax regime for Maintenance, Repair and Overhaul (MRO) has been rationalized which will reduce the maintenance costs.

Power Distribution Companies in Union Territories will be privatized. This new tarrif policy will help for promotion of industries, consumer rights and also brings sustainability.Private sector investment will be boosted through revamped viability gap funding scheme of Rs 8,100 crore . Central Government enhances 30% of total project cost.Government is planning to boost private participation in Space Activities. Future projects will be opened for private sector. Even they are making an eye on Atomic energy related reforms.


This post first appeared on Latest Technology News|Current Events|Business Inf, please read the originial post: here

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FM focused more on Structural Reforms on the fourth day of economic details package

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