Economic package 4th tranche – Highlights

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The fourth tranche of the Rs 20 lakh crore comprehensive economic package to tide over the COVID-19 crisis focus on defense,Coal,Aviation,Space,Power.
to tide over the COVID-19 crisis

New Delhi, May 16 (PTI) Following are the highlights of the fourth tranche of the Rs 20 lakh crore comprehensive economic package announced by Finance Minister Nirmala Sitharaman to tide over the COVID-19 crisis:

Defence:

* FDI in defence manufacturing to be hiked to 74 per cent from 49 per cent under automatic route

* Govt to notify a list of weapons/platforms banned for imports, such items can only be purchased from India

* To promote indigenisation of imported spares, focus on lowering defence import bill

* Separate budget provisioning for domestic capital procurement

* Faster decision making in defence procurement

* Govt to corporatise Ordnance Factory Board

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