FM’s 4th Speech For Mining & Defence Sector

Finance Minister, Nirmala Sitharaman announced the fourth installment of the 20 lakh crore package to enable India to become a 'Self-Reliant Bharat'

Finance Minister, Nirmala Sitharaman announced the fourth installment of the 20 lakh crore package. For India to become 'Self-Reliant Bharat' (Atmanirbhar) we must be ready for tough competition that will enable us to match the challenges of the world. The Finance Minister announced that Structural reforms will help a lot of companies investing in India. Policy Reforms will be made to fast-track investments

  1. Coal Sector: The Government will introduce commercial mining of coal. This is because India needs to increase the production of coal to reduce import of coal from abroad. 

  2. Minerals- Private companies will be encouraged to invest in the production of Minerals. 500 government mining blocks would be auctioned to companies to be offered through an open and transparent auction process. 

  3. Defence Production-  Indian companies will be encouraged for the Indian production of machine parts used in the Military. This will make India more strong as it will not depend on foreign countries. Earlier Foreign companies were only allowed to invest 49% without government approval,  in Indian manufacturing companies that produced Defence equipment. Now FM announced that Foreign companies can invest up to 79%. 

  4.  Civil Aviation - Earlier there were many rules about who is allowed to fly planes in Indian Air Space. Now FM announced these rules will be made so that more civilians can fly planes. This will help the government earn up to Rs 1,000 crore. The government is working hard to make India a global hub for aircraft maintenance, repair and overhaul. The government will now build airports in India in partnership with private companies. 

  5.  Power Sector Reforms- Government Power Distribution Companies in Union Territories to be privatized with the new tariff policies. This will make the power sector more efficient. 

  6. Private Sector investment - There are many social infrastructure projects that do not have enough funds. The Central government used to provide 20% funding to such projects. Now the government has created a fund of Rs 8,100 crore to increase the funding by 30%. This will encourage various private companies to invest in such projects. 

  7. Space Sector -  The government will now encourage private companies to take part in Government space projects. 

  8. Atomic Energy - For various Nuclear Projects, the government plans to partner with private companies.