Rs 20.9trillion Self-Reliant India measures!
In her opening remarks during the 5th part of stimulus package to fight Covid-19 under Aatma Nirbhar Bharat Abhiyaan, the Union Minister of Finance & Corporate Affairs Nirmala Sitharaman referred to the vision laid out by Prime Minister Shri Narendra Modi in his address to the Nation on 12th May 2020. All together FM announced total Rs 20.9trillion for the shaping up of Self-Reliant India!
Quoting the Prime Minister, Sitharaman said that as a Nation, we stand at a very crucial juncture. Covid-19 Pandemic has brought a message and an opportunity. We need now to build an Aatma Nirbhar Bharat. Announcing the 5th and last Tranche of measures towards Government Reforms and Enablers, Sitharaman detailed seven measures for providing employment, support to businesses, Ease of Doing Business, and State Governments as well sectors such as Education and Health.
Earlier a day ahead she had pronounced her 4th part of measures. Finance Minister announces new horizons of growth; structural reforms across Eight Sectors paving way for Aatma Nirbhar Bharat. Nirmala Sitharaman said that structural reforms are the focus for today’s press conference. She said that many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities & bring transparency.
Once we decongest the sectors, we can boost the sector, for growth, the Finance Minister added. The Finance Minister further said that Prime Minister Shri Narendra Modi has very strong record in taking up deep systemic reforms citing Direct Benefit Transfer enabled giving money directly to people, GST brought in One Nation, One Market, Insolvency & Bankruptcy Code (IBC) resolved insolvency issues and steps taken for Ease of Doing Business.
During her press conference, Sitharaman outlined the need for Policy reforms to fast track investments and the steps taken by the Government in this regard. She stated that fast track clearance is being done through Empowered Group of Secretaries, a Project Development Cell would be set up in each Ministry to prepare investable projects and coordinate with investors and Central and State governments.
Sitharaman also announced that a scheme will be implemented in States through challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity. There will be availability of industrial land/land banks for promoting new investments and making information available on Industrial Information System (IIS) with GIS mapping.
3376 Industrial Parks/ Estates/SEZs in five lakh hectares are mapped on IIS. All Industrial Parks will be ranked during 2020-21.
