Nirmala Sitharaman press conference HIGHLIGHTS: Structural policy reforms in growth-oriented sectors was the key highlight of today’s reforms rollout as government liberalised crucial sectors for more investment, higher production and more jobs opportunities. FM Sitharaman in her address clarified that Atma Nirbhar Bharat Abhiyan is not about making India isolated. Today, the government announced reforms for eight sectors – coal, minerals, defence production, air space management, airports, MRO, distribution companies in UTs, space sector, and atomic energy. FM announced to make the air travel cheaper and in an effort to make civilian flying more efficient, it announced to ease the restrictions on utilisation of the Indian Air Space. The government also announced the commercial mining in the coal sector and informed that the government’s monopoly will be removed to make coal available on market prices. Further, FM Sitharaman said that discoms in metros will be privatised and load shedding will face penal action. Discom functions will be streamlined so as to improve accountability. In an attempt to make India an Atmanirbhar economy in the space sector, the government will boost private participation in space activities. The government will also provide a predictable policy and regulatory environment to private players. The government will bring in policy reforms to fast-track investment; project development cell in each ministry to prepare investible projects, coordinate with investors and central/ state governments. Under upgradation of industrial infrastructure, the scheme will be implemented in states through challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity. The government has increased the FDI limit in defence manufacturing under the automatic route from 49 per cent to 74 per cent.
