FM

FM gives reforms pill for ailing economy with privatisation, policy tweaks

Continuing with back again-to-back again bulletins, Union Finance Minister Nirmala Sitharaman on Saturday rolled out a sequence of steps as portion of the Rs twenty-trillion stimulus package deal to assistance businesses cope with the lockdown anxiety, nevertheless a lot of of these were being significant very long-time period reform steps place together as a Covid offer.

In the most recent announcement, the government’s emphasis was on structural reform in sectors this sort of as coal, minerals, aviation, defence, aerospace, power, and social infrastructure. This bundled an maximize in the overseas direct investment restrict in defence manufacturing to seventy four for every cent from forty nine for every cent, disallowing imports of sure armed forces machines and weapons units, and privatising power distribution in Union Territories

Sitharaman also mentioned the Centre would conclude its monopoly in coal mining by auctioning 50 blocks, encourage Rs 50,000 crore worth of investment in coal

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