The fourth package has been unfolded by Finance Minister Nirmala Sitaraman via a press conference held in Delhi. The final phase will be unfolded on Sunday @ 11 am by a press conference. Today’s press conference was continued for 1 hour and 18 minutes in which 8 announcements were made. The fourth press conference was dedicated to coal, mineral, defence manufacturing, air-space management, power distribution companies, social infrastructure, space and nuclear power. Out of these, 3 sectors are now open for private investments.
It also included the privatisation of airports and power distribution companies but it is going on before the announcements too. Many airport’s operation are vested in private hands. In metropolis, power distribution is also in private hands.
The first announcement was for the coal which stated that 50 coal blocks will be given to private sector bt the revenue has to be shared with the government. Now the government is giving permission of commercial mining which in turns return in the increase of competition. anyone monopolyction for coal block and tehn can sell the coal to open markets.
Monopoly of government will be abolished and in fact the methane gas from mines will also get auctioned. So, 50,000 crores have been secluded for the infrastructural development of the same. The rules made for the entrance of private companies are also simple.
500 mining blocks will be in private hands via auction. The mineral sector is now opened for private investments. the difference between captive and non- captive mines wil be abolished. In non-captive mines, the coal is sold to different companies. The coal and bauxite mines auctioning will be the joint auctioning so that the Aluminium industry can also get profits.
The third announcement was for defence. A list of weapons will be made. The weapons mentioned in the list will not be imported, they will be made and bought in India only. In defence manufaTuring’s automatic route, Foreign Direct Investment (FDI) will be increased to 74% from 49%. It means that till 74% of FDI, permission is not needed. Import will also be banned year wise so as to make “AtmaNirbhar” India.
Air Space will be used judiciously. The FM has made 3 important announcements regarding the same which are as follows; The restrictions from Airspace usage will be removed; The auction of 6 airports will be made on PPP basis, 13,000 crores will come from the investment in 12 airports; the tax system will be made easy for the maintenance and repair of the aircraft.
Changes will also be made in the area of electricity. Smart pre-paid meters will be installed. The electricity will vest in private hands in Union Territories. The consumer will get the electricity properly. If the company is in danger, the consumer will not be in. If the company is ground shedding power, the fines will be imposed.
81,000 crore will be given to the private sector for social infrastructure. The privatisation is a must in this sector as the need for a school, the hospital was felt in the time of this epidemic.
Private companies will also get chance to invest in space sector. The companies which can make or launch satellites will get a chance to incest in this. The private companies will be granted permission to use the facilities of ISRO.
The reactors will also be able to start on the basis of PPP. The research reactor will start on this basis. These will be the isotopes for medical. Technological development and incubation center will be build so that fuits and vegetables can be stored for a long time. The companies belonging to health and medical sector will get benefit of this announcement. The research reactors will also be used to find a cheap treatment of cancer and other diseases.