‘Commercial Mining in Coal Sector to Start, Govt Monopoly to End’, Announces FM Nirmala Sitharaman as Part of 4th Tranche of Aatmanirbhar Bharat Package

New Delhi, May 16: Finance Minister Nirmala Sitharaman on Saturday presented the fourth tranche of measures to help the economy hit by the coronavirus lockdown. The fourth press briefing by the finance minister on the special economic package focused on structural reforms in new sectors, where growth is possible and employment is generated. In her address, Sitharaman stated that commercial mining in coal sector will be brought in and that government monopoly will be removed. The Finance Minister added saying that the government will introduce competition, transparency, and private sector participation in the Coal Sector through revenue sharing mechanism instead of the regime of fixed rupee/tonne.

The plan was announced as part of the mega Rs 20 lakh-crore economic package for the 'Self-reliant India Movement' announced by Prime Minister Narendra Modi recently. In her fourth press conference in as many days, she said the focus of the fourth stimulus would be coal, minerals, defence production, civil aviation sector, power distribution companies in Union Territories, space sector and atomic energy sector.

Here's the tweet by PIB:

Union Finance Minister Nirmala Sitharaman on Friday came out with a slew of fiscal measures along with regulatory reforms to revive the agriculture and allied sectors. On the third day of detailing the mega economic package on Friday, Sitharaman announced eight measures and three reforms or the agriculture sector and allied activities such as fisheries, beekeeping, animal husbandry and milk production.

In her address on May 15, she announced Rs 1 lakh crore agriculture infrastructure fund and Rs 10,000 crore scheme for micro food enterprises. The government also allocated Rs 20,000 crore for fisheries, Rs 15,000 crore for animal husbandry infrastructure.