Thread by @PBNS_India

Watch Live: Union Finance Minister @nsitharaman addressing a Press Conference.

#AtmaNirbharBharat twitter.com/i/broadcasts/1…

@nsitharaman After PM's address to the nation on building an #AatmaNirbharBharat, we have been announcing details of the stimulus Govt. feels it should provide to the economy and our people.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman PM had said that we should prepare for tough competition. When we speak of #AatmaNirbharBharat, we are not looking inwards, it is not isolationist policy, it is making India rely on its strengths, ready to face global challenges
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman Many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities & bring transparency. Once we decongest sectors, we can boost the sector, for growth and jobs.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman PM has very strong record in taking up deep systemic reforms. Direct Benefit Transfer enabled giving money directly to people, GST brought in #OneNationOneMarket, IBC resolved insolvency issues, #EaseofDoingBusiness steps taken, recalls FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman Public sector bank reforms infused equity and also ensured that they are professionally managed, also giving them independence. No cronyism has been developed through banks.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman Direct taxation reforms were taken, daring power sector reforms, coal sector, irrigation - PM @narendramodi has been consistent in taking up reforms. Structural reforms are the focus of today's announcements.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi The structural reforms being announced today will impact those sectors which are new horizons of growth, unleashing new investment, boosting production and creating jobs
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi Because of #COVID19 lockdown, it seems that #Budget2020 has been a long time ago, it has just been presented in Feb 2020, just before that, we announced National Infrastructure Investment Fund
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi Empowered Group of Secretaries has been formed to fast-track infrastructure investment, ranking states for investment attractiveness, project development cells have been formed, champion sectors being promoted
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi 'Govt. to bring in Policy Reforms to fast-track Investment; Project Development Cell in each Ministry to prepare investible projects, coordinate with investors and Central/ State Governments’: FM @nsitharaman

#AatmaNirbharEconomy

@nsitharaman @narendramodi Efforts taken give us confidence that @makeinindia, an initiative to change mindset, bring in new ways of doing business, make sure India becomes attractive on its strength, is bearing fruit. This is a foundation for #AatmaNirbharBharat
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Scheme will be implemented in States through Challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity:

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia We are making sure that using technology, land parcels are mapped using GIS and are utilized properly. 3,376 Industrial parks over 5 lakh hectares have been mapped, so that potential investors can utilize them appropriately
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Coal
Minerals
Defence Production
Airports
Airspace Management
Maintenance, Repair and Overhaul
Power Distribution companies in UTs
Space
Atomic Energy

- these are the 8 sectors where structural reforms are being brought in today, states FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia 1️⃣
Government monopoly in coal sector being abolished
Commercial mining on revenue sharing basis to be brought in to the sector
Will improve coal availability, and that too at market prices -
FM @nsitharaman announces 1st structural reform #AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Govt. brings Policy Reforms in Coal Sector:

✅ Introduction of Commercial Mining in Coal Sector
✅Investment of Rs 50,000 crores
✅Liberalised Regime in Coal Sector

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Liberalized entry will be given, encouraging participation in a range of coal blocks
Incentives will be given to those who are able to produce ahead of deadline
- FM @nsitharaman , announcing end of government monopoly in coal sector #AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Enhancing Private Investments in the Mineral Sector: Structural reforms to boost growth, employment and bring state-of-the-art technology:

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia India has 3rd largest valued coal mines, but still we import it
Regulation is required when there is shortage
We have been suffocating the sector by regulating it, and preventing it from producing what is required by industry
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Economy will benefit from opening up of coal sector, we will provide incentive to convert coal into gas, coal bed methane extraction will happen via auction, ₹ 50,000 crore to be spent for evacuation infrastructure, after mining
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia Around 50 new coal blocks will be offered immediately, only upfront payment with a ceiling will be the eligibility condition
- MoS @ianuragthakur #AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur 2️⃣
Seamless composite exploration cum mining cum production regime to be brought in
Silos separating exploration, mining & production to be broken
Will remove uncertainty for investors and make processes easier for participants
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur Enhancing Self Reliance in Defence Production : ‘Make in India’ for #aatmanirbharbharart in Defence Production

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur 500 mining blocks to be offered through open transparent mechanism
Many investors had left India due to earlier mismatched policy
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur FDI limit in the defence manufacturing under automatic route will be raised from 49% to 74%: #AatmanirbharBharart in Defence.

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur Joint auction of bauxite and coal mineral blocks will happen, so that aluminium industry gets more competitive, electricity cost for industry comes down and also ensuring that mineral sector is better facilitated
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur Efficient Airspace Management for Civil Aviation: Restrictions on utilisation of the Indian Air Space will be eased so that civilian flying becomes more efficient

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur More World-class #Airports through #PPP: Another 6 airports will be put out for the third round of bidding.

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur Distinction between captive and non-captive mines to be removed
Will help transfer of mining leases and sell surplus unused minerals
@MinesMinIndia is developing a Minerals Index
Stamp duty for mining license being rationalized
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia #AatmaNirbharEconomy in Civil Aviation Sector:

#India to become a global hub for Aircraft Maintenance, Repair and Overhaul (#MRO)

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia A Tariff Policy laying out the reforms in

▪️ Consumer Rights
▪️ Promote Industry
▪️ Sustainability of Sector

to be released.

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 3️⃣
#MakeInIndia in Defence
List of weapons and defence platforms to be notified, for which import will be banned
This is being done in consultation with Dept. of Military Affairs
Will bring down defence import bill
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Power Departments / Utilities in Union Territories to be privatised.

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia List of items for which imports will be banned will be revised continuously, subject to their meeting standards of Armed Forces
Indigenization of imported spares will be given priority
We need to be self-reliant where we can be
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Boosting private sector investment in Social Infrastructure through revamped Viability Gap Funding Scheme with a Total outlay of Rs 8100 crores

#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Ordnance Factory Boards to be corporatized (not privatized)
This will improve their autonomy, accountability and efficiency
They can get listed in stock markets, citizens too can purchase shares, will lead to greater transparency
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Boosting private participation in Space activities: Govt. to provide predictable policy and regulatory environment to private players

#AatmaNirbharEconomy in Space Sector

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Govt. to establish research reactor in #PPP mode for production of medical isotopes to promote welfare of humanity through affordable treatment for cancer and other diseases.
#AatmaNirbharDesh in the Atomic Energy Sector
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 4️⃣
FDI limit in defence being raised from 49% to 74%
Mechanism for time-bound defence procurement to be set up
Realistic setting of qualitative requirements of weapons & platforms to be made
Trial & testing process to be overhauled
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 5️⃣
Air space management to be rationalized, to bring down time and cost
All these years, we have been flying to our destinations, not through the shortest route, but slightly longer routes, leading to increased flying time and cost
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Optimal utilization of air space will enable us to get to our destinations in shortest possible time, saving time, fuel, cost, with tremendous environmental impact
Will provide a leap to civil aviation sector which has huge potential
-FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 6️⃣
6 more airports for auction, to be operated on PPP basis
Additional investment of ₹ 13,000 crore in 12 airports
Will bring in better facilities & customer experience in Indian airports
₹ 2,300 crore down payment for AAI
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 7️⃣
India to be made a global hub for Aircraft Maintenance, Repair & Overhaul Operations
Tax regime being altered for this, maintenance cost for all airlines will come down, will have ripple effect, bringing down cost for passengers
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 8️⃣
Power distribution companies in Union Territories to be privatized, in line with upcoming tariff policy
Reform will ensure that discom inefficiency will not become a burden on consumers, standard of service will be improved
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Reform in tariff policy will strengthen consumer rights, bring in more sustainability, timely payments will be made to the generation companies, smart prepaid meters will be set up
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Sub-optimal performance of power distribution and supply can never be in favour of the customer

- FM @nsitharaman, announcing privatization of power distribution companies in union territories

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 9️⃣
₹ 8,100 crore provision via viability gap funding for ramping up social infrastructure projects
Govt. has decided to give 30% viability gap funding, as against 20%, which is usually given for projects such as schools, hospitals
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia Through the increased viability gap funding in social infrastructure, we expect private players to come in to help meet urgent requirement for social infrastructure in the country
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia 1️⃣0️⃣
Reform to brought in, to allow private players to benefit from @isro's assets & facilities
We want private sector to be co-travellers with us, to enable both Govt. and private sector to work together for an #AatmaNirbharBharat
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia @isro We are going to work towards a liberal geo-spatial data policy which will provide remote sensing data to tech entrepreneurs, encouraging Indian startups doing pioneering work.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia @isro 1️⃣1️⃣
We will establish a research reactor in PPP mode, exclusively for production of medical isotopes, for welfare of humanity, for promoting affordable treatment for diseases like cancer
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman @narendramodi @makeinindia @ianuragthakur @MinesMinIndia @isro 1️⃣2️⃣
Facilities in PPP mode to be set up for using irradiation technology for food preservation; will improve shelf life of perishable goods like onion
Tech Development cum Incubation Centres to be set up for synergy between research & industry
- FM @nsitharaman
#AatmaNirbharDesh