News:The Union Finance Minister has announced the 4th economic package under Atma Nirbhar Bharat Abhiyan.
Facts:
- Coal sector:
- Commercial mining will be introduced in the coal sector and the government monopoly in coal mining will be removed.
- Defence production:
- Enhancing self-reliance in defence production- Indigenization of imported spares, separate budget provisioning for domestic capital procurement.
- FDI limit in defence manufacturing under automatic route will be hiked from 49% to 74%.
- Corporatisation of Ordnance factory board.
- Civil aviation:
- Restrictions on the utilisation of Indian airspace are going to be eased so that the flying of civilian aircraft becomes more efficient.
- Power distribution sector:
- Power distribution companies in the union territories (UT) will be privatised.
- Mining sector:
- Structural reforms in the mining of minerals through the introduction of a seamless composite exploration cum mining regime under which 500 mining blocks would be auctioned.
- Joint auctions for bauxite and coal mines will be conducted to help the aluminium industry.
- Social-infrastructure projects:
- Boosting private sector investment in Social Infrastructure through increased Viability Gap Funding Scheme of upto 30% for each project.
- Space sector:
- Privatisation will be introduced for future projects such as planetary exploration and outer space travel.
- Atomic energy:
- Government will link India’s robust start-up ecosystem to the nuclear sector with the setting up of Technology Development cum Incubation Centres.
- Government will establish a research reactor in the PPP model for the production of medical isotopes for affordable treatment of cancer and other diseases.
