The government will end its monopoly in coal mining by allowing private companies and raise the limit for foreign investment in defence manufacturing without regulatory approval from 49 per cent to 74 per cent, said Finance Minister Nirmala Sitharaman on Saturday.
“India won’t look inwards and won’t be self-isolationist as it tries to be self-reliant,” she said as she listed “structural reforms” for eight sectors, namely coal, minerals, defence production, civil aviation, power distribution in Union Territories, space research and atomic energy.
Sitharaman said the government would end its monopoly in coal mining by allowing private companies. Commercial mining will be on a revenue-sharing mechanism instead of the regime of fixed rupee/tonne. Nearly 50 blocks will be up for bidding, and the government will invest Rs 50,000 crore for building evacuation infrastructure.
