Atmanirbhar Economy: FM Announces Policy Reforms For Fast-Track Investments; Scheme For Industrial Infra Upgradation

Atmanirbhar Economy: FM Announces Policy Reforms For Fast-Track Investments; Scheme For Industrial Infra UpgradationRepresentative image of an industrial and transport equipment manufacturing factory.

Finance Minister Nirmala Sitharaman on Saturday (16 May) began her fourth tranche of announcements pertaining to the Rs 20 lakh crore economic package under Atmanirbhar Bharat vision.

FM Nirmala Sitharaman said that structural reforms will be the focus of fourth tranche of economic stimulus package with an aim to boost growth, create jobs in the country.

She said that the government is working to bring in policy reforms to fast-track Investment; Project Development Cell in each Ministry to prepare investible projects, coordinate with investors and Central/ State Governments.

This fast tracking of investment project would be done via Empowered group of Secretaries (EGoS).

Additionally, incentive scheme would be launched for promotion of Champion Sectors such as Solar PV manufacturing, advanced cell battery storage etc.

Additionally, the FM announced scheme for up-gradation of Industrial Infrastructure. It will be implemented in States through Challenge mode for Industrial Cluster Upgradation of common infrastructure facilities and connectivity: