Nirmala Sitharaman speech: FM rolls out structural reforms - Coal mining, Defence FDI, Space to aviation - check key takeaways

FM Nirmala Sitharaman today, presented the 4th tranche of the Rs 20 lakh crore stimulus package announced by PM Narendra Modi to kick-start the economy that has been badly hit by the coronavirus lockdown and to bring relief to all segments of society that have been impacted. FM had announced a Rs 1 lakh crore Agri-Infra Fund yesterday along with a Rs 20,000 crore package to fisheries sector. Eight sectors were discussed in the fourth tranche of this stimulus package announcement.

FM Sitharaman will be presenting the 5th and final tranche of the economic relief package on Sunday at 11 AM.

WATCH VIDEO OF NIRMALA SITHARAMAN PRESS CONFERENCE:

Here are the key takeaways from FM Nirmala Sitharaman' speech today: 

5:07 PM

Space projects to be opened for the private sector: FM

5:05 PM

Government of India to work upon a liberal geo-space data policy: FM

5:03 PM

Govt to notify a list of weapons/platforms banned for imports; such items can only be purchased from India: FM

5:01 PM

Provision to penalise private power discoms

On power cut beyond a certain limit, there will be provision for penalty to the private power distribution companies.

4:58 PM

Power distribution companies in UTs (Union Territories) to be privatised: FM

4:56 PM

Government of India vows to emerge aircraft repair service hub: FM

4:54 PM

Ease in restriction of utilisation of Indian Air Space

Restrictions on the utilisation of Indian Air Space will be eased so that civilian flying becomes more efficient. Will bring a total benefit of Rs. 1000 crores per year for the aviation sector: Finance Minister Nirmala Sitharaman.

4:46 Six more airports to be auctioned on PPP basis

FM Sitharaman announces six more airports to be auctioned on PP basis. Airport Authority of India to handle the airport privatisation affair.

4:44 PM Corporatisation vs Privatisation

FM says that Ordinance Factoy Board will be corporatised not privatised.

4:41 PM FDI in defense manufacturing increased from 49 pct to 74 pct

Promoting Make In India in defense manufacturing sector, FDI in defense manufacturing sector increased from 49 pct to 74 pe cent.

4:39 PM  Rs 50,000 crores allocated or diversified opportunities in coal sector

Diversified opportunities in the Coal Sector, investment of Rs 50,000 crores. The investment of Rs. 50,000 crores is for the evacuation of enhanced CIL's (Coal India Limited) target of 1 billion tons of coal production by 2023-24 plus coal production from private blocks: FM

4:37 PM Coal mining to become more competitive

Govt will introduce competition, transparency, and private sector participation in the Coal Sector through revenue sharing mechanism instead of the regime of fixed rupee/tonne: Finance Minister Nirmala Sitharaman. 

4: 35 PM Government to bring mineral index

FM says steel, bauxite and other mining will get benefit as government is going to bring mineral index.

4:33 PM 500 new mineral blocks to be opened

FM Sitharaman says that new 500 mineral blocks will be opend to tap the untapped mining opportunity by allowing the new commercial miners.

4:31 PM Revenue sharing formula

Revenue sharing mechanism instead of regime of fixed rupees/tonne will be offered for commercial mining of coal: FM

4:26 PM Commercial coal mining on revenue sharing formula

FM says that commercial mining in the coal sector will be allowed under proper regulation on revenue sharing basis.

4:23 PM Commercial mining approved in coal sector

FM says that government is going to break the monopoly in the coal mining and hence commercial mining in coal sector has been approved.

4:22 PM Coal reforms

Commercial mining to be brought in in the coal sector. Monopoly in coal mining will be abolished.

4:18 PM Eight sectors in folcus today

FM says eight sectors are going to be discussed today. Those eight sectors include coal, minerals, defense production, air space management, airports, MRO, power distribution companies in UTs and space.

4: 12 PM Make In India was foudation for 'Aatmnirbhar Bharat'

FM Sitharaman says that PM Modi's 'Make In India' initiative was the foundation stone for the making of an 'Aatmnirbhar Bharat.'

4:10 PM Job creation in focus

FM says stuctural reforms will help create new job opportunities in post-lockdown situation helping India to become an 'Aatmnirbhar' nation.

4:09 PM Structural reforms in focus today

FM begins the 4th tranche with a focus on the structural reforms today. 

4:07 PM FM hails DBT

Finance Minister hails the direct benefit transfer that ensured timely relief being sent to the poor and other needy people during lockdown.

4:05 PM: Sitharaman begins her 4th tranche of stimulus package announced by PM Modi to kick-start the economy after the Coronavirus lockdown.