NEW DELHI, May 16: Addressing the nation fourth time on Rs 20 lakh crore economic stimulus announced by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur announced commercial mining of coal and Power distribution companies in Union Territories will be privatised.
Commercial Mining of Coal :Government bringing in commercial mining of coal on a revenue sharing basis, says FM.Govt monopoly in coal mining being removed. This will be done based on a revenue-sharing mechanism instead of regime of fixed rupee per tonne. Any party can bid for a coal block and sell in the open market.Coal bed methane will also be auctioned. Rs 50,000 crore for evacuation infrastructure is being provided
Enhancing Private Investments in Mineral Sector : 500 mining blocks will be offered through an open and transparent auction process.
Enhancing Self-reliance in Defence Production: Notify a list of weapons/platforms for ban on import with year wise timeline, Separate budget provisioning for domestic capital procurement and FDI limit raised from 49 per cent to 74 per cent
Civil Aviation - reduction in flying cost Rs 1000 crore Efficient airspace management for civil aviation and 6 more airports identified in second round bid to commence immediately.
|