PM’s ‘Atmanirbhar Bharat Abhiyaan’ | Important Structural Reforms | COVID-19 | The National TV
- by Suramya-Kaushik
- May 18, 2020 20:06
In Finance Minister Nirmala Sithraman’s address to the country, many guidelines have been issued. Under that, one major drift is of structural reforms in eight sectors. The below eight sectors will undergo structural reforms under PM’s “Aatmanirbhar Bharat Abhiyaan”. These sectors are:
- Defense Production
- Airspace Management
- Distribution Companies
- Atomic Energy
The highlights of these structural reforms are:
- In the coal sector, commercial mining will be brought on a revenue shared basis. The government monopoly of the coal sector is now been lifted and thus removed.
- In the mineral sector, a seamless composite exploration-cum-mining-cum-production regime will take place. This reform will help in boosting growth, employment, and bringing in state-of-the-art technology.
- In defense production, a list of equipment will be notified which will be banned for import, and such equipment will then be purchased from within India.
- In the aviation sector, the restrictions on utilization of the Indian Air Space will be eased which will help the civilian flying and make it more efficient. FM Nirmala Sitharaman said that a total benefit of Rs 1000 crore per year will be brought to the aviation sector.
- The tax regime for the MRO ecosystem has been rationalized which will help India to become a global hub for Aircraft Maintenance, Repair, and Overhaul (MRO).
- Power departments/utilities in Union Territories will be privatized which will further lead to better services to consumers and will bring financial efficacy in distribution.
- In the space sector, India will be co-traveler in India’s space sector journey and will, therefore, be allowed to use ISRO facilities. Along with this, future space projects will be open to the private sector.
- In the production of medical isotopes, there will be an establishment of a research reactor in PPP mode. This will help in promoting affordable treatments for cancer and other diseases.
Along with these reforms conveyed by Finance Minster, she also stressed upon private sector investment. In this investment, there will be a revamped Viability Gap Funding Scheme of Rs. 8100 crores that will boost the private sector. These reforms are taken in view of the “Aatmanirbhar Bharat Abhiyan” where self-reliance has been chosen as the key to India’s development and its future journey towards a moral stable tomorrow.
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