The Government of India is planning to bring reforms rather than economic stimulus by infusing money immediately. Some of the public sectors government planning to revamp.
- I) Defence Sector
- Indigenisation- today India is the largest importer of arms- spending a large amount of money. Indigenisation of arms is the best solution. Ban on import of some weapons identify and also identify some sectors and some weapons as made in India.
- FDI limit enhanced by defence sector which is right now 49% and to be enhanced by 74%. Foreign companies to invest in the defence sector; they will bring technology along with it. It will eventually make India self-reliant.
- Ordnance Factory Board- its headquarters is in Kolkata and this functions under the department of defence production. The principal products its manufactures includes- tanks, armoured vehicles; the artillery guns; small arms and weapons of various types, ammunitions. It also produces troop comfort equipment like uniforms; tents as well as boots for soldiers. Government now considering making it a public cooperporation. Therefore, it will be corporatised, this will provide them greater functional autonomy; improved efficiency and accountability.
- General staff qualitative requirement- specifications put on by the armed forces on the equipment that they require in near future. It will give all the requirements armed forces require tpo defence ministry. Technical parameter- issue of overstepping of technical parameters; this technical parameters is a lot time consuming- under new policy it will be less time consuming.
- II) Coal Sector
In India we have the government of India’s monopoly over coal production; even if permission is granted to the private sector it is subjected to captive mining. Captive mining- a particular company obtaining a particular amount of coal; it can only use this coal for its own purpose and cannot sell it.
But as this provision has lifted, now private companies can be involved in commercial mining. There are no eligibility conditions right now. Revenue sharing mechanism will be followed instead of the earlier fixed price per tonne. Removal of public sector monopoly will lead to reduced imports of coals of India.
III) Mineral Sector- distinction between the captive and non-captive mines will be done away with. It will increase competition and also increase operational efficiency in the mineral sector.
- IV) Civil Aviation Sector- there are about 6 airports that will be opened up for auction on the private public partnership this will provide the government some money and will be used as resources to develop smaller airports across the country. The Government of India also wants to make India a hub of manufacture; repair and overhaul of the civil aviation industry; serving can be done in India.
- V) Space- private players allowed in the private sector- they will be able to use ISRO facilities; planetary explorations; outer space travel be opened up for the private sector.
- VI) Atomic Sector- private-public partnership be induced in this sector, where they would be set up for the production of medical isotopes and irradiation facilities for the food preservation as well. Promote ‘MAKE IN INDIA’.