Nirmala Sitharaman Press Conference Live: Finance Minister To Announce Fourth Set Of Economic Measures Today
The government also announced measures related to the atomic energy sector.
Research reactor under public-private partnership model will be set up for the production of medical isotopes. The government will establish facilities in PPP mode to use irradiation technology for food preservation.
Private Participation In Space Sector
The government will encourage private participation in the space sector, Finance Minister Nirmala Sitharaman said.
The government will provide a level playing field for the private sector in satellite, launches and space-based services. The private sector will also be allowed to use ISRO facilities. In addition, future projects for planetary exploration will be open to the private sector.
Social Sector Projects
The government plans to enhance viability gap funding for social sector projects, Finance Minister Nirmala Sitharaman said.
Viability gap funding will be increased from 20 percent to 30 percent of the project cost. The total outlay for this is Rs 8,100 crore.
DISCOMS In Union Territories To Be Privatised
The government will take steps to privatise power distribution companies in union territories. Power departments and utilities in the territories will be privatised, Finance Minister Nirmala Sitharaman said.
Inefficiencies of the distribution companies will not be allowed to hurt consumer, Sitharaman said, adding that power tariff reforms will be furthered. Measures such as power load shedding will be discouraged.
Improved Airspace Availability; More Private Airports
The government has announced the opening up airspace availability and said that six more airports will be privatised.
Only 60 percent of Indian airspace is freely available, said Finance Minister Niramala Sitharaman. Restriction on utilisation of Indian airspace will now be eased. This will save Rs 1,000 crore in flying cost, she said.
In addition, six more airports have been identified for privatisation in the second round via the public-private partnership route. The government expects Rs 12,000 crore investment in the first and second round. The intention to do so was first announced last year.
India will be developed as a hub of maintenance, repair and overhaul operations both for the private and the defence sector.