NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday, in her fourth set of announcements on a stimulus package to tide over the coronavirus crisis said, restrictions on Indian air space will be eased to make civilian flying more efficient, She also announced that six more airports would be auctioned to private players.
This will bring in a total benefit of about Rs 1,000 crore per year for the aviation sector.and also an optimal utilization of airspace and reduce fuel costs and flying time, "Sitharaman said.
For the creation of more world-class airports in India, six more airports have been identified for Public-Private Partnership (PPP). In the first and second rounds, private players are expected to make an additional investment of Rs 13,000 crore in 12 airports, Ms Sitharaman said.
Here are the Highlights of the FM Nirmala Sitharaman Fourth Tranche of 20 Crore Lakh Economic Stimulus Package:
* States will be ranked on investment attractiveness for new investments
* There will be policy reforms to fast-track investment
* Scheme will be implemented in states through challenge mode for industrial cluster up-gradation of common infrastructure facilities and connectivity
* All industrial parks will be ranked in 2020-21
* Fast-track investment clearance through an empowered group of secretaries
* Project development cell in each ministry to prepare investible projects, coordinate with investors and central/state governments
* Govt to introduce competition, transparency and private sector participation in the coal sector through revenue sharing mechanism instead of regime fixed rupee/tonne
* Introduction of a seamless composite exploration-cum-mining-cum-production regime
* 500 mining blocks would be offered through this transparent auction process
* Remove the distinction between captive and non-captive mines to allow the transfer of mining leases and sale of surplus unused minerals
* Ministry of mines in the process of developing a Mineral Index for Different Minerals
* Govt to enhance self-reliance in defence production
* Notify a list of weapons/platforms for a ban on import with year-wise timelines
Indigenisation of imported spares will be given priority in defence
* Separate budget provisioning for domestic capital procurement. This will help reduce the huge Defence import bill
* FDI limit in defence manufacturing under automatic route raised from 49% to 74%
* Indian private sector to be a co-traveller in India’s space sector journey