FM's fourth tranche has no fiscal measure: P Chidambaram
May 16, 2020
New Delhi [India], May 16 : Finance Minister Nirmala Sitharaman did not announce any fiscal measure in her fourth tranche of the economic stimulus package, said senior Congress leader P Chidambaram on Saturday.
Taking to Twitter, Chidambaram, also a former Union Finance Minister, said, "My one line comment on FM's fourth tranche: No fiscal measure, ZILCH."
Finance Minister Sitharaman in her announcements on Saturday said that Foreign Direct Investment (FDI) limit in defence manufacturing under automatic route will be raised from 49 per cent to 74 per cent.
One of the major points of the announcements made by the Finance Minister was that the government will not import weapons that can be manufactured within the country.
"We will notify a list of weapons and platforms for a ban on their imports and fix deadlines to do it," said the Finance Minister, while stating that the list would be increased every year as the self-reliance in the sector expanded.
Another major point was that the government would create a separate budgetary provision for the capital acquisition of domestic products and the defence ministry would also work towards indigenising spares which are imported from foreign countries.
