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  • Tue. Nov 5th, 2024

Coal to air travel: Finance minister Sitharaman reveals structural reforms in 8 essential sectors

Coal to air travel: Finance minister Sitharaman reveals structural reforms in 8 essential sectors

NEW DELHI: Financing minister

Nirmala Sitharaman

on Saturday announced vibrant

structural reforms

in 8 key sectors in the fourth tranche of

economic stimulus

package with an objective to boost development and develop jobs. These consist of coal, minerals, defence, civil aviation, power circulation, area and atomic energy sector.

Here the sector-wise reforms revealed by the financing minister:

Business mining in coal sector

Government revealed

industrial mining of coal

by the economic sector, therefore ending federal government monopoly. Business mining will be done on earnings sharing mechanism rather of the routine of fixed rupee/tonne.

Nearly 50 blocks will be offered for bidding and the federal government will invest Rs 50,000 crore for constructing evacuation facilities.

Enhancing personal investment in mineral sector

500 blocks of minerals will be auctioned in a composite exploration-cum-mining-cum-production program. A joint auction of

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