INDIA

Tranche IV Focused On Structural Reforms And Employment Generation Says FM Nirmala Sitharaman

Mumbai: Finance Minister Nirmala Sitharaman unveiled the fourth tranche of the 20 Lakh crore stimulus package on Saturday. She said that tranche IV will be focused on the sectors which are new horizons of growth and creating jobs.

“The structural reforms being announced today will impact those sectors which are new horizons of growth, unleashing new investment, boosting production and creating jobs,” said Finance Minister Nirmala Sitharaman.

She added many sectors needs simplification of policies, to make it simpler for people to understand what sector can give, participate in activities & bring transparency. Once the sector decongests, we can boost it for growth and jobs.

“Incentive schemes for the promotion of New Champion Sectors will be launched in sectors such as Solar PV manufacturing; advanced cell battery storage etc,” FM said.

For fast track investment, clearance through Empowered Group of secretaries (GoS) will be provided. Project development cell will be set up in all the ministry’s to prepare investible projects and to co-ordinate will investors and Central/state government.

“Schemes will be implemented in states through challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity,” she added.

Availability of industrial land/Landbank for promoting new investments and making information available on Industrial Information System (IIS) with GIS mapping will be done. 3376 industrial parks have been mapped in 5 hectares on IIS, said Sitharaman.

Prime Minister has very strong record in taking up deep systemic reforms as DBT, GST, he has said that we should prepare for tough competition. #AatmaNirbharBharat is making India rely on its on strengths, ready to face global challenges,” said Sitharaman.

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