New Delhi, May 16: Union Home Minister Amit Shah on Saturday welcomed a slew of economic measures announced by Finance Minister Nirmala Sitharaman as part of Rs 20 lakh crore “Aatma Nirbhar Bharat” package. Amit Shah in a series of tweet praised Prime Minister Narendra Modi and Sitharaman. He said that PM Modi’s “mantra of Reform, Perform & Transform is the key of India’s phenomenal growth in the last six years.” Commercial Mining, FDI Hike in Defence, Space Exploration for Private Sector: What Nirmala Sitharaman Announced in 4th Tranche of Economic Stimulus.

In a tweet, Shah stated, “I thank PM @narendramodi  & FM @nsitharaman for today’s landmark decisions which will surely boost our economy & further our efforts towards Atmanirbhar Bharat.” Talking about economic measures strengthening coal sector, the Home Minister said that it would bring more competition and transparency. He tweeted, “Rs 50,000 crores for infrastructure development in coal sector and introduction of commercial mining is a welcome policy reform which will bring more competition and transparency. I congratulate PM Modi for this unprecedented step to make India self-reliant in coal production.”

Tweets  By Amit Shah:

Welcoming the Sitharaman’s announcement to increase FDI limit in defence manufacturing, the Home Minister state that the decision would strengthen the “Make in India” programme and would reduce burden on imports. Shah in a tweet said, “A strong, secure and empowered India is PM @narendramodi’s top most priority. Raising the FDI limit in defence manufacturing to 74% and banning import of selected weapons/platforms with year wise timelines will surely boost ‘Make in India’ & reduce our import burden.”

Amit Shah's Tweet:

The Home Minister also praised PM Modi for easing out restrictions on utilisation of Air Space. He tweeted, “I thank PM Modi for futuristic decisions to push the Aviation sector. By easing out restrictions on utilisation of Air Space, our aviation sector will be benefited by about ₹1000 crores/year. Tax regime for MRO has been rationalised to make India a global hub for Aircraft MRO.” He also applauded PM Modi for the decision to provide Rs 8100 crore revamped Viability Gap Funding to boost private sector investment in social Infrastructure.

Tweet by Union Home Minister:

Earlier in the day, Sitharaman unveiled structural reforms in the fourth tranche of announcements related to the Rs 20 lakh crore package announced by PM Modi on May 12 to mitigate the impact of Coronavirus on the Indian economy. The reforms are intended to reboot the defence production, mining and civil aviation sector. The FDI hike in the defence sector, permit for commercial players in mining and space exploration for private sector were among the highlights of Sitharaman’s fourth tranche of announcements.

 

(The above story first appeared on LatestLY on May 16, 2020 08:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).