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