HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-4
Highlights of “Aatma Nirbhar Economic Package” : Part-4
OVERVIEW OF THE THREE PAST TRANCHES:
The first instalment included measures for small businesses, the second to help migrant workers and the third to agriculture, farmers and workers.
STRUCTURAL REFORMS ARE THE FOCUS OF THESE ADS:
What are the new growth horizons, releasing new investments, increasing production and creating jobs?
(1) Many sectors need policy simplification to make it easier for people to understand what the sector can provide, participate in activities and bring transparency. After decongesting the sectors, we can propel it towards growth and jobs.
(2) Public sector banking reforms infused capital and also ensured that they were professionally managed, giving them independence. No godparents were developed through the banks.
(3) Direct tax reforms have been adopted, bold reforms in the energy sector, coal sector, irrigation – PM Mr Modi, have been consistent in adopting reforms.
(4) Steps to be followed for the reinitialization of the investment:
- Fast-tracking of investment authorizations
- Special cell for continuous approvals
- Industrial infrastructure upgrade
- Provide land solutions
(5) All industrial parks to be classified
(6) The PM has a very strong track record in adopting deep systemic reforms:
- Direct benefit transfer activated, giving money directly to people
- GST brought One Nation One Market
- IBC solved insolvency problems; #Ease of Doing Business
(7) Eight sectors in focus:
- Defence Production
- Airspace management,
- Energy distribution companies in Union Territories
- Atomic Energy
(8) Rs 50,000 crore attributed to the creation of coal evacuation infrastructure.
(9) Boost the mineral sector:
- Continuous mining, exploration regime
- 500 mining blocks to be offered
- Joint auction of bauxite and coal blocks
- The distinction between captive and non-captive mines removed
- A mineral index to be made
- Stamp duty to be rationalized
(10) Increase private sector investment in social infrastructure through the renewed feasibility financing scheme, with a total disbursement of R $ 8100 million.
(11) Increase private participation in space activities: Govt. provide predictable policy and regulatory environment for private actors.
(12) A tariff policy that establishes reforms in:
- Small black square Consumer rights
- Small black square Promote the industry
- Small black square Sustainability of the sector
(13) Make a defence effort in India:
- Indigenization of imported spare parts
- List of weapons/platforms to be notified for an import ban
- Separate budget for purchases
- Improve autonomy, accountability in ammunition
- The FDI limit increased from 49% to 74%
- Review of test systems
- We need to be self-sufficient where we can
(14) The distinction between captive and non-captive mines to be removed:
- Will help transfer mining leases and sell surplus unused minerals
- Ministry of Mines is developing a Mineral Index
- Stamp duty for mining license being streamlined
(15) New aviation wings:
- 6 more airports at auction
- Pvt players make money in the investment room: Rs 13,000 cr
- 6 more airports to be identified
- Streamlining airspace to reduce flight time and save fuel
- Airspace limits to be removed
- Green efforts to be boosted
(16) Reform of tariff policies for power:
- Discoms in Meters to be privatized
- You won’t have to suffer from inefficiencies
- Cargo spill will face criminal action
- Discom functions to be optimized to improve accountability
(17) Atomic energy reforms:
- Research reactor to be carried out in PPP mode (for medical isotopes)
- Installation in PPP mode for food irradiation technology
- Startup ecosystem linked to the nuclear sector
(18) We are making sure that using technology, land parcels are mapped using the GIS and are used properly. 3,376 industrial parks covering more than 5 lakh hectares have been mapped so that potential investors can use them properly.