Make this your homepage
Business News
Home > Business News
Coal monopoly gone; defence, space sectors opened up
TIWN
Coal monopoly gone; defence, space sectors opened up
PHOTO : TIWN

New Delhi, May 17 (TIWN) In a mega push to boost mining, defence, civil aviation and power distribution sectors, Finance Minister Nirmala Sitharaman, here on Saturday, announced deep structural reforms under the Rs 20 lakh crore economic package for the 'self-reliant India' programme, announced by Prime Minister Narendra Modi recently.

The deep structural refroms drive was announced under the government''s massive Rs 20 lakh crore economic package for the ''Self-reliant India Movement'' announced by Prime Minister Narendra Modi recently.  Moreover, the minister detailed reforms for eight key sectors which will be supported and promoted via structural reforms.  However, the biggest reform measure was taken for the coal sector, whose mining was deregulated, thereby, ending one the last remain great Central monopolies.  The minister further announced that nearly 50 blocks will be offered immediately for auction.  In fact, coal based methane gas reserves will also be auctioned. 

On the civil aviation sector, the Centre will ease the air space availability to allow airlines to save cost and passengers to spend less time while travelling.  Furthermore, private sector participation in space sector will be enouraged throuh collaboration with ISRO and a libral geo-spactial data policy.  In addition, a medical isotope producing research reactor will be established in PPP mode.  These announcements have been made under Prime Minister''s mega stimulus package which will take the total amount announced by the Ministry of Finance and the RBI to a total of Rs 20 lakh crore or 10 per cent of the GDP.

Add your Comment
Comments (0)

Special Articles

Saumen Sarkar Saumen Sarkar
Anirban Mitra Anirban Mitra