New Defence Reforms to Help Make the Indian Defence Sector `Atmanirbhar’

Finance Minister (FM) Nirmala Sitharaman’s briefing on measures to be executed by the government to power the nation out of a descent into an economic whirlpool that could suck the country into the quicksand of a hard depression was a shade different from the three previous tranches announced. In that, it had its prime focus more on structural reforms in a few industry sectors that have the potential to generate wealth, employment and strategic benefits in the long run.
In the fourth tranche that Sitharaman outlined, the focus was on defence production, aerospace including MRO, space, atomic energy, coal and minerals. In the Defence production area, long pending issues have been addressed by the government. Hopefully, the execution of these proposals will be fast-tracked. Read More…