1. *Excess And Unused Land at Various 3376 Industrial Area, SEZ, etc*- approximately 5Lac Hectors will be Geo Tagged and will be used for future requirement. This will help future investors to get Land soon
2. Sectors for which announcements made today-Coal, Minerals, Defence Material, Air space, Power Distribution Companies, Space Sector, Atomic Energy, Advanced Solar Cell Manufacturing, Battery Manufacturing.
3. Coal Sector Reform- Government Monopoly will be removed. Commercial mining will be allowed on revenue sharing basic. India has the 3rd Largest Untaped Coal Reserves. IF Coal Converted into Gas then incentives will be provided. 50000cr will be invested to create evacuation Infra which is the need of the Our. Today India imports lot of Coal and now if sector is opened for private sector. Now it will be open to all and not only to steel Industry and power sector. Partially Explored mines will be re-auctioned.
4. Mining Of Minerals- Seamless Composite Exploration, Mining and Production will be done from now. 500 new blocks will be given under this scheme. Now Joint Auction will be done for eg now Aluminium and Coal will also be auctioned jointly. Will remove the difference between Captive and Non Captive Mines. Now person can transfer the Mining lease. Rationalisation of stamp duty will also be done. Now Private Companies will also be allowed in Mining Business. Mineral Index will also be developed.
5. Defence Production
– To make india self reliant make in india will be introduced in defence sector also. Notify List Of weapons and platforms which will be banned for import. Every year new items will be included in this list. Even spare parts will be manufactured in india. So no import will be permitted of these weapons and platforms. Additional Allocation will be done in form of capital for Indian Companies.
– Will do corporatisation of the Ordinance Factory Boards and not privatisation. They will also be listed on stock exchanges.
-FDI limit of 49% will be raised to 74% in defence manufacturing sector under automatic route.
6. Civil Aviation
Air Space Management. Only 60% of Indian Airspace is freely available. Now Optimum utilisation of Airspace will be done by rationalisation. This will help in saving travel time and also on fuel bill.
Six More Airport will be up for Auction on PPP basis. Airport Authority will get 2300cr for this.
Investment of Rs 12000 cr has come with privatisation of 12 airports.
– Make India MRO Hub. Maintenance and repair of Aircrafts are done outside india. Now it is planned to fo it in india. Both Private and defence Aircrafts will be done here. This will reduce the cost tremendously. Lot of changes done in taxation system for their benefit.
7. Power Distribution Companies in Union Territories will be privatised– Tariff Policy reforms will also be done soon. Inefficiencies of Discom will not be passer on to consumers.
8. Social Infrastructure: Govt earmarks Rs 8100 Crore for viability gap funding to encourage private sector investment
9. Space Sector: Govt to promote private participation in space activities + ISRO facilities to be allowed to be utilised by private players
10. Atomic
Govt to put in place policy for research reactor in PPP mode + Medical isotopes to be allowed to be produced for medical purpose
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TW Editorial Team comprises of team of experienced Chartered Accountants and Advocates devoted to spread the knowledge of GST amongst the various stakeholders.
