Speed Post News Network
New Delhi : Lauding the slew of structural reform measures announced by Union Finance Minister on May 16, 2020, Union Home Minister Amit Shah said, “I thank PM Shri Narendra Modi and FM Smt. Nirmala Sitharaman for today’s landmark decisions which would surely boost our economy and further our efforts towards Aatmanirbhar Bharat”. PM Modi‘s mantra of ‘Reform, Perform and Transform’ is the key to India’s phenomenal growth in the last 6 years, he added.
Congratulating PM Modi for the unprecedented step to make India self-reliant in coal production, Shah said, “Rs 50,000 crore for infrastructure development in coal sector and introduction of commercial mining is a welcome policy reform which will bring more competition and transparency.”
“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’ and reduce our import burden,” he said. A strong, secure and empowered India is Modi Government’s top most priority, the Home Minister said, according to a PIB release.
Shah thanked PM Modi for futuristic decisions to give a boost to the Aviation sector. He said, “By easing out restrictions on utilisation of Air Space, our aviation sector will be benefited by about Rs 1000 crore/year. Further, the tax regime for MRO has been rationalised to make India a global hub for Aircraft MRO.”
Talking about the decision to boost private sector presence in the field of space and social infrastructure development, the Home Minister said, “I applaud PM Modi for today’s decisions like providing Rs 8,100 crore revamped Viability Gap Funding to boost private sector investment in social infrastructure and encouraging private participation in Space activities so that they can become a co-traveller in India’s space journey.”