<p>Historic structural reforms announced on Saturday will bolster domestic production and promote cutting edge innovation in defence, aviation, and atomic energy space, Minister of State for Finance Anurag Thakur said.</p>.<p><strong>Read: <a data-qa="message_attachment_title_link" href="https://www.deccanherald.com/national/atma-nirbhar-bharat-key-takeaways-from-finance-minister-nirmala-sitharamans-presser-838384.html" rel="noreferrer noopener" target="_blank">Atma Nirbhar Bharat: Key takeaways from Finance Minister Nirmala Sitharaman's presser</a></strong></p>.<p>"Today's announcements have unleashed a new frontier of business and domestic innovation with private partnerships. There will be a tectonic shift in how India imports and does business. These sectors employ millions and will have a great significance in enhancing the economic outlook of the country in this decade," he said.</p>.<p>These reforms across various sectors including coal, mines, civil aviation, will have a positive impact on the growth trajectory by enhancing investments, increased production capacity and thereby offer avenues for job creation, he said in a statement.</p>.<p>With diversified opportunities in the coal sector, he said the new incentives will spur the growth of the sector exponentially.</p>.<p><strong><a href="https://www.deccanherald.com/national/coronavirus-india-live-updates-total-cases-deaths-covid-19-tracker-worldometer-update-lockdown-30-latest-news-835374.html">Track live updates on coronavirus here</a></strong></p>.<p>Private investments have been enhanced in the mining sector with the introduction of a seamless composite exploration-cum-mining-cum-production regime, he said, adding that this would bring many more mineral blocks into the auction.</p>.<p>As many as 500 mining blocks would be offered through an open and transparent auction process soon, he said.</p>.<p>"It is given to visionary approach of Prime Minister Narendra Modi led Government, Reform – Perform – Transform have been kept in mind while devising the economic stimulus package," he said.</p>.<p>Thakur also said that the spirit of self-reliance has been extended to the defence sector along with airspace management that too will undergo a transformation owing to the reforms brought into effect today in the civil aviation sector. </p>
<p>Historic structural reforms announced on Saturday will bolster domestic production and promote cutting edge innovation in defence, aviation, and atomic energy space, Minister of State for Finance Anurag Thakur said.</p>.<p><strong>Read: <a data-qa="message_attachment_title_link" href="https://www.deccanherald.com/national/atma-nirbhar-bharat-key-takeaways-from-finance-minister-nirmala-sitharamans-presser-838384.html" rel="noreferrer noopener" target="_blank">Atma Nirbhar Bharat: Key takeaways from Finance Minister Nirmala Sitharaman's presser</a></strong></p>.<p>"Today's announcements have unleashed a new frontier of business and domestic innovation with private partnerships. There will be a tectonic shift in how India imports and does business. These sectors employ millions and will have a great significance in enhancing the economic outlook of the country in this decade," he said.</p>.<p>These reforms across various sectors including coal, mines, civil aviation, will have a positive impact on the growth trajectory by enhancing investments, increased production capacity and thereby offer avenues for job creation, he said in a statement.</p>.<p>With diversified opportunities in the coal sector, he said the new incentives will spur the growth of the sector exponentially.</p>.<p><strong><a href="https://www.deccanherald.com/national/coronavirus-india-live-updates-total-cases-deaths-covid-19-tracker-worldometer-update-lockdown-30-latest-news-835374.html">Track live updates on coronavirus here</a></strong></p>.<p>Private investments have been enhanced in the mining sector with the introduction of a seamless composite exploration-cum-mining-cum-production regime, he said, adding that this would bring many more mineral blocks into the auction.</p>.<p>As many as 500 mining blocks would be offered through an open and transparent auction process soon, he said.</p>.<p>"It is given to visionary approach of Prime Minister Narendra Modi led Government, Reform – Perform – Transform have been kept in mind while devising the economic stimulus package," he said.</p>.<p>Thakur also said that the spirit of self-reliance has been extended to the defence sector along with airspace management that too will undergo a transformation owing to the reforms brought into effect today in the civil aviation sector. </p>