Am live tweeting main points of the 4th press conference of @nsitharaman starting now ...
1. Structural reforms are the focus of today's announcements.
2. Policy reforms to fast track investments -
3. Efforts have started for upgrading industrial infrastructural. Today's announcements will also look at this.
4. The main points are yet to come up. This is all an intro.
5. 8 sectors are being discussed today - coal. minerals, defence production, aviation, power distribution companies, space, atomic energy.
6. Coal - Commercial mining in the coal sector is being brought in. The govt monopoly is being removed. Revenue sharing basis. Coal at market prices. Liberalised entries for a range of coal blocks. Incentives for those who beat delivery deadlines.
7. Regulations are required ... when there is a shortage. This country has abundant coal. We have been suffocating its production. The economy will benefit. Aware of environmental concerns ... these are being addressed.
8. 50,000 crores for creating evacuation infrastructure - ie mined coal to move coal from the mines.
9. Typo - 50,000 crores for creating evacuation infrastructure - ie means to move coal from coal mines will be established.
10. Mining of minerals - Minerals - sectoral reforms - Will now have a combined exploration-mining-production regime.
11. 500 mining blocks to be offered through this.
12. Removing the distinction between captive and non-captive mining.
13. Defence self reliance - There will be imports but some of those systems being bought in India .. we shall notify ... a list of weapons and platforms .. which shall not be allowed for import.
14. These indigenous systems will meet all qualified requirements. Manufacture of spares in India is critical.
15. Defence import bill needs to come down. Department of Military Affairs (Gen Rawat) will coordinate this.
16. Ordinance supplies - corporatisation of ordinance factory boards. This is not privatisation. Govt wants better management. OFBs should ultimately get listed on the markets.
17. FDI limits raised from 49 to 71 per cent ... Also have a mechanism for TIME BOUND DEFENCE PROCUREMENT. Unrealistic quality requirements are sometimes spelt out. Realistic setting up of quality requirements. Realistic testing of systems will be ensured.
18. Correction - 49 per cent to 74 per cent FDI limit raised in defence procurement.
19. Civil aviation - air space management, PPE in airports, MRO hub
20. Air space management - optimal use of air space. In other words, defence air space will be cut down ... fuel savings will be large, pilot utilisation will be positively impacted.
21. 6 more airports are for auction - AAI shall do this on public private basis.
22. MRO hub - Maintenance, Repair and Overhaul - India to be made an international hub
23. India has all the skills available - India can be a centre in the region. We need to make sure the MRO eco system happens in India. Defence aircraft can also benefit from this. Maintenance costs for all airlines will come down.
24. Power sector reforms - DISCOMS - Those who do load shedding will be punished.
25. Social infrastructure projects - 8100 crores - will go in the form of viability gap funding. In general for most projects, which are supported by statutory bodies, govt has decided to give 30 per cent viability gap funding.
26. Space - Private sector is doing a lot of work in the space arena - They are unable to use ISRO's facilities for testing their products. ISRO's assets can be made available for Indian private players. Private players to be `co travellers' with the government.
27. Future plans for inter-planetary travel will involve private sector. Geo-spatial data is available within the country - a liberal geo-spatial data policy will start. With caution. Since this is a sensitive area.
