The economic measures announced by his government on Saturday will create many business opportunities and contribute to economic transformation, Prime Minister Narendra Modi has said.
Taking to Twitter, the prime minister said important sectors such as coal, minerals, defence, aviation, space and atomic energy have been covered in the announcements made by Finance Minister Nirmala Sitharaman on Saturday.
Sitharaman on Saturday announced the fourth tranche of an overall package of Rs 20 lakh crore to deal with the economic fallout of the COVID-19 pandemic.
In bold reforms aimed at boosting sagging economy, the government announced an easing of limits on foreign direct investment in defence manufacturing, privatisation of six more airports, opening up of more air space and allowing private sector in commercial coal mining.
"The measures and reforms announced will create many business opportunities and contribute to economic transformation," Modi said.
In his address to the nation on Tuesday, Prime Minister Modi had introduced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore yo boost the economy hit by coronavirus lockdown.