Here the sector-wise reforms announced by the finance minister:* Commercial mining in coal sectorGovernment announced commercial mining of coal by the private sector, thereby ending government monopoly.
"We are bringing in commercial mining in coal sector, government monopoly is now being removed", said the Finance Minister. In addition, 500 new mining blocks to be offered through "transparent auction".
A large part of the new measures should be seen as Government's new emphasis of developing "self reliant" country, said economy watchers.
For Modi's most ardent fans, the narrative logic that followed seemed to make sense: at the 20th minute of the 20th hour of the day, Modi announced that his government would offer up an economic package of Rs 20 lakh crore. This will help Coal India (CIL) raise production from 600 million tonnes to 1 billion tonnes by 2023-24.
Seamless composite exploration-cum-mining-cum-production license. Coal bed methane will also be auctioned. Addressing her fourth press briefing today, Sitharaman said empowered Group of Secretaries will be formed for fast track clearance of investment projects.
"Corporatisation does not mean privatisation".
Six more airports have been identified for operation and maintenance on public-private partnership (PPP) basis.
The finance minister announced easing of restrictions on utilisation of Indian air space, benefiting civil aviation sector by about Rs 1,000 crore per year.
She said only 60 per cent of Indian airspace is freely available. This will not only save cost of fuel, but also save time.
Using the Covid-19 crisis as an opportunity, India is opening up the atomic energy sector for private sector participation.
"An additional investment of Rs 13,000 crore will be made by private players in 12 airports auctioned in first and second rounds", the FM added.
The government announced to give privavte sector a role in India's space programme, including in satellites, launches and space-based services.
Private sector to get good access for space; boost private participation in space.
The government will provide a predictable policy and a regulatory environment for private players. They will be allowed to use ISRO facilities and other relevant assets to improve their capacities.
India will set up a research reactor in PPP mode for the production of medical isotopes, finance minister said. A tariff policy that does not burden consumers with distribution companies' inefficiencies will be guaranteed, she said while presenting the fourth tranche of the economic stimulus package.
"The power distribution companies in union territories shall be privatised".
FM Sitharaman had earlier said the announcements will be made in tranches. "We will notify a list of weapons and platforms for ban on their imports and fix deadlines to do it", she said. FDI limit in defence manufacturing under automatic route is raised from 49 percent to 74 percent.
Sitharaman announced a hike in viability gap funding (VGF) for development of social infrastructure.
Private sector investment in social infrastructure to be boosted via Rs 8,100 crore Visibility Gap Funding Scheme.
The viability gap funding will be increased from 20% to 30% of the project cost.