Announcement of the 4th phase of Indian relief package by Nirmala Sitaraman

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Revealing the fourth phase of Indian relief package of government's mega stimulus, in eight important sectors, Nirmala Sitharaman the finance minister of India has taken extensive structural reforms including air sector management, social infrastructure projects, defence production, power distribution companies, coal and minerals, Emphasis on, space fields and nuclear power.

India should be ready for stiff competition, which will permit us to meet the difficulties as well as challenges of global value chains; Nirmala Sitharaman rightly described 'self-reliant Bharat'.

In the third phase of the relief package, the Nirmala Sitaraman announced a mix of legislative and financial, as well as reform measures intended widely at enhancing and rising the pricing power of farmers or distributions of advantages in farm incomes. the finance minister proposed to dismantle traditional domestic trade restrictions bring different and new laws for free food as well as products markets, and more reliable infrastructure. 

The 4th phase of Indian relief package of the focus's on Rs 20 lakh crore economic stimuli- 
 

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Structural Reforms- Structural reforms allowed India to become an engaging investment destination. 

Scheme Reforms to fast-track finances 

·       Spending on finance of Fast-track approval by Empowered Group of Secretaries

·       Advancement of Industrial Infrastructure- Plans will be demonstrated in the states by difficulty and challenging modes for improving industrial cluster of basic infrastructure facilities and connectivity.

·       Now Indian Govt focuses on 8 major sectors like air sector management, social infrastructure projects, defence production, power distribution companies, coal and minerals, Emphasis on, space fields and nuclear power.

·       Coal Sector- Government is offering the commercial mining of coal. India necessitates decreasing the import of substitutable cal as well as boost self-reliance in coal production. Around 50 blocks will be auctioneered. The spending of Rs 50,000 crore from the relief package is to reach the target of generating 1 billion tonnes of coal from Coal India Limited 2023-24 plus coal production.
 

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·       Minerals- to Improve as well as increase private finance in the mineral sector. Nirmala Sitharaman the finance minister of India also announced that at the time of honour of mining leases the rationalization of stamp duty able to pay. 500 mining blocks would be allowed by an extensive and transparent auction method, a collective auction of Bauxite and Coal mineral blocks will be offered to intensify the Aluminum industry's competitiveness. 

·       Improving self-sufficiency in defence production - indigenization of imported elements, the requirement of a separate budget for the domestic capital purchase. These measures will enhance autonomy, accountability as well as efficiency in the defence sector. Under the automatic way, the foreign direct investment ultimate in defence production is going to expand from 49% to 74%. The govt has announced the detention of the Ordnance Factory Board.

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    Civil Aviation (Airspace Management, World Class Airports through PPP, MRO HUB) - Limitations on the use of Indian air space will be reduced so that civilian flight is more efficient. This effort will result in a whole profit per year of Rs. 1000 crores for the aviation sector. Development of outstanding world-class airports by PPP route. The Indian government is working actively to make India as a global hub for aircraft preservation and maintenance, repair and overhaul. Airports Authority of India has granted 3 airports out of 6 airports for development as well as maintenance on (PPP) basis. In the second round, private players have added more investment in 12 airports of Rs 13,000 crore.

·       Power Sector Reforms- finance minister Nirmala Sitaram announced that according to new traffic policies the Power Distribution Organizations in Union Territories is going to become privatized in line. This will allow increasing industries and bringing effectiveness in the intact power sector. This will also permit confidence and stability in the sector.

·       Heightening Private Sector investment - Enhancing private sector investment in social infrastructure by an Rs 8100 crore recurring feasibility gap funding scheme.

·       Space Sector- Increase private assistance in space fields. The Government of India is working on a progressive and liberal geospatial policy. The private sector, the finance minister Nirmala Sitaram stated that, to be a co-passenger in the launch of India's space sector travel through satellite services.

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         Atomic Energy- with the nuclear sector The Government of India plans to connect India's strong start-up ecosystem - technology advancement cum incubation hubs will be set up to foster synergies between technology entrepreneurs and research facilities. Establishment of an analysis reactor in the PPP method for the generation of medical isotopes.