Highlights: Discoms In Union Territories To Be Privatised, Says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman addressed a press conference today, her fourth in as many days, to give the details of Rs 20 lakh crore package announced by Prime Minister Narendra Modi earlier this week.

On Friday, Sitharaman had announced Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers and Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFEs) under the stimulus package.

On Thursday, Sitharaman announced the 'One Nation One Ration Card', free food grain supply to migrants and creation of affordable rental housing complexes (ARHC) in urban areas for migrant workers and poor under the COVID-19 stimulus package.

Here are all the highlights from the press conference: 

5:21PM: "Will provide a level-playing field for private companies in satellites, launches and space-based services": Finance Minister Nirmala Sitharaman

5:11PM: Indian private sector will be a co-traveller in India's space sector journey. Will provide a level-playing field for private companies in satellites, launches & space-based services: Finance Minister Nirmala Sitharaman.

5:08PM: Privatisation of distribution in Union Territories - sub-optimal performance of power distribution & supply, power departments/utilities in Union Territories will be privatised:  Finance Minister Nirmala Sitharaman. 

5:07PM: Boosting private sector investment in Social Infrastructure through revamped Viability Gap Funding Scheme of Rs 8100 crores: Finance Minister Nirmala Sitharaman.

5:02PM: Discoms in Union Territories to be privatised, says FM Sitharaman.

5:01PM: A Tariff policy with reforms will be released, including consumer rights, promotion of industry and sustainability of sector: Finance Minister Nirmala Sitharaman. 

5:00PM: India to become a global hub for Aircraft Maintenance, Repair and Overhaul (MRO). The tax regime for the MRO ecosystem has been rationalized. Aircraft component repairs and airframe maintenance to increase from Rs 800 crores to Rs 2000 crores in 3 years: FM Nirmala Sitharaman.

4:53PM: Six more airports will be auctioned for private participation; Rs 13,000 cr additional investment by pvt players in 12 airports: FM

4:52PM: Restrictions on utilisation of Indian airspace to be eased for civilian flights; Rs 1,000 cr a year benefit to aviation sector: FM 

4:45PM: Foreign Direct Investment limit in defence manufacturing under automatic route is being raised from 49% to 74%: Finance Minister Nirmala Sitharaman. 

4:43PM: 'MakeInIndia' for self-reliance in defence production - we will notify a list of weapons/platforms for ban on import with year wise timelines. There will be indigenisation of imported spares, says FM. 

4:35PM: Rs 50,000 cr to be spent by govt for evacuation of mined coal, says FM. Revenue sharing mechanism instead of regime of fixed rupees/tonne will be offered for commercial mining of coal, she says. 

4:31PM: India comes in top 3 places with highest coal reserve. 50 new coal blocks will be made available for auction. Commercial mining in coal sector to be brought in; govt monopoly to be removed, says FM on structural reforms

4:28PM: We know coal is not very environment friendly. So we are providing incentive for creation of gas from coal. 15,000 crore rs will be used for evacuation infrastructure of coal, says Nirmala Sitharaman. 

4:23PM: Schemes will be implemented in states through challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity: Finance Minister Nirmala Sitharaman. 

4:22PM: Incentive schemes for the promotion of New Champion Sectors will be launched in sectors such as Solar PV manufacturing; advanced cell battery storage etc.: Finance Minister Nirmala Sitharaman. 

4:21PM: Many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities & bring transparency. Once we decongest sectors, we can boost the sector, for growth and jobs, says FM Nirmala Sitharaman. 

4:18PM: The eight sectors where reform was brought: coal, minerals, defence production, airspace management, airports, MRO i.e. civil aviation sector, space sector, power sector, says Finance Minister.  

4:13PM: Foundation of Aatma Nirbhar Bharat was laid by Make in India campaign, says FM.  

4:08PM: Once we decongest sectors, we can also provide necessary boost. That sector will have more employment. PM wants to take on deep systematic reforms, says FM. 

4:07PM: PM had said in building a self reliant Bharat we have to be strong enough to compete with global value chain and also integrate. Atmanirbhar Bharat is for making India self reliant and not to isolate India.  

4:03PM: Finance Minister Nirmala Sitharaman has arrived to announce the 4th tranche of the 20 lakh crore economic package announced earlier by Prime Minister Narendra Modi. 

3:54PM: After announcing a bunch of economic schemes to help an ailing economy, Finance Minister Nirmala Sitharaman will address the media again at 4pm.