FM Nirmala Sitharaman - Press Conference at 11 AM IST- DAY 5

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Nirmala Sitharaman likely to announce relief plans for tourism, aviation sector

Finance Minister Nirmala Sitharaman's press conference at 4 pm announcing details of the fourth tranche of finacial stimulus package is likely to focus on economic relief plans for the tourism and aviation sector, News18 reported. 

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Nice ppts 

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Third tranche was focused on agri sector, reforms for farmers & fishermen

The third set of announcements made yesterday were largely focused on the agriculture and allied sectors and consisted of the following measures:

1. Rs 1 lakh crore agriculture infrastructure fund

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2. Rs 10,000 crore scheme for micro food enterprises.

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3. Rs 20,000 crore allocation for fisheries

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4. Rs 15,000 crore for animal husbandry infrastructure

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5. Amendment to the Essential Commodities Act

 

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Today's announcements to focus on structural reforms in certain sectors, says FM

The finance minister recalls past reforms including DBT, GST, which she said brought one nation, one market, IBC and several steps taken for ease of doing business and reform of public sector banks.

"Reform of public sector banks eases cronyism, she said adding that other reforms included power sector, coal sector and so on. The focus on today's announcements will be on structural reforms in sectors which will have the potential to attract investments," she said.

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Reforms to be announced in eight sectors including coal, defence production

Coal, minerals, defence production, airspace management, MRO and airports (Civil aviation), space , power distribution in UTs and atomic energy are the eight sectors in which reforms will be announced, said the finance minister.

 

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Nirmala Sitharaman talks about up-gradation of industrial infrastructure

"Attempts have already started for up-gradation of industrial infrastructure. Need to talk about this afresh. Industrial land banks, clusters been identified long back. Now using tech, we are ensuring these land parcels are identified," says FM

 

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Govt allows commercial mining of coal on revenue sharing basis, announces FM

Govt allows commercial mining of coal on revenue sharing basis to remove govt monopoly, says Finance minister. Regulation are required when there is a shortage but we have an abundant supply which is getting suffocated. Govt to provide incentive to turn coal into gas for environmental reasons, she adds. Rs 50,000 crores to be spent for evacuation infrastructure.

 

 

 

 

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FM makes announcements related to mineral sector

 

"The sectoral reform we want to bring in here to give boost to the sector is to now have a seamless composite exploration-cum-mining-cum-production regime. 500 mining blocks will be offered through an open and transparent auction process," says FM.

 

Joint auction to be conducted for bauxite and aluminium

Joint auction for bauxite and aluminium to boost the sector, says FM. Mineral index will be developed and stamp duty will rationalised at the time of awarding mining leases, she added.

 

 

 

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Govt to ban import some defence military equipment

In consultation with the department of military affairs, the govt shall notify a list of equipments the import of which will be banned. The list will be increased every year as capacity increases. Indignenisation of spares will also be taken up on a priority basis.

 

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FDI limit in defence manufacturing to be raised from 49% to 74%