Union Home Minister Amit Shah on Saturday hailed the announcements made by Finance Minister Nirmala Sitharaman in the fourth tranche of the Rs 20 lakh crore stimulus package and said that a "strong, secure and empowered India" is Prime Minister Narendra Modi's topmost priority.
In a series of tweets, Amit Shah said the landmark decisions will boost the economy and strengthen efforts towards self-reliant India.
He said Prime Minister's mantra of 'Reform, Perform and Transform' is the key of India's phenomenal growth in the last six years.
"I thank PM Narendra Modi and FM Nirmala Sitharaman for today's landmark decisions which will surely boost our economy and further our efforts towards Atmrbhar Bharat," he said.
"A strong, secure and empowered India is PM Narendra Modi's topmost priority. Raising the FDI limit in defence manufacturing to 74 per cent and banning import of selected weapons/platforms with year-wise timelines will surely boost 'Make in India' and reduce our import burden," he added.
Sitharaman on Saturday announced that Foreign Direct Investment (FDI) limit in defence manufacturing under automatic route will be raised from 49 per cent to 74 per cent.
The Home Minister said that Rs 50,000 crore for infrastructure development in coal sector and introduction of commercial mining is a "welcome policy reform which will bring more competition and transparency."
"I congratulate Prime Minister Modi for this unprecedented step to make India self-reliant in coal production," he said.
He also lauded decisions concerning the aviation sector.
"I thank PM Modi for futuristic decisions to push aviation sector. - By easing out restrictions on utilisation of Air Space, our aviation sector will be benefited by about Rs 1,000 crores/year. - Tax regime for MRO has been rationalized to make India a global hub for Aircraft MRO," he said.
Shah hailed the moves to boost private sector investment in social infrastructure and to encourage private participation in space activities.
"I also applaud PM Modi for today's decisions like providing Rs 8100 cr revamped Viability Gap Funding to boost pvt sector investment in social Infrastructure & encouraging private participation in Space activities so that they can become a co-traveller in India's space journey," he said.
The Prime Minister had on Tuesday announced Rs 20 lakh crore comprehensive special economic package to help the country become self-reliant and deal with COVID-19 crisis.
( With inputs from ANI )