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Key Points From The 4th Day Of Announcement Of Govt's Rs 20 lakh Crore Economic Package

Union finance minister Nirmala Sitharaman on Saturday unveiled the fourth tranche of government's Rs 20 lakh crore economic package focusing the structural reforms in coal, minerals, defence production, airports and civil aviation, power distribution, space, and atomic energy.

Here are the key points from today's announcement -

  • 3,376 industrial parks/estates in 5 lakh hectares mapped on International Information System, all industrial parks will be ranked on 2020-21.

  • Coal bed methane (CBM) extraction rights to be auctioned from Coal India Limited's coal mines.

  • 500 mining blocks would be offered through an open and transparent auction process, a joint auction of bauxite and coal mineral blocks will be introduced to enhance the aluminum industry's competitiveness.

  • Rs 50,000 crore will be spent by the government to ensure evacuation infrastructure is being provided in the coal sector.

  • The government will enhance the quantum of viability gap funding up to 30 percent each of the total project costs.

  • The creation of social infrastructure projects worth Rs 8,100 crore through revamped viability gap funding scheme has been proposed.

  • The government will establish facilities in PPP mode to use irradiation technology for food preservation to compliment agricultural reforms and assist farmers.

  • The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.

  • Restrictions on the utilization of Indian airspace will be eased so that civil flying becomes more efficient. This will bring a total benefit of about Rs 1,000 per year for the sector.

  • Power distribution companies in Union Territories will be privatized in line with tariff policy reforms.

  • FDI limit in the defense manufacturing sector under the automatic route is being raised from 49 percent to 74 percent.

The last of the five-part economic package will be released tomorrow.

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