Far reaching structural reforms
It will be interesting to keep an eye on the fine print and the various facets of implementation of measures announced by Finance Minister on 16 May 2020, says Dhruva Advisors LLP.
It acknowledged that the measures were indeed noteworthy for boosting the economy.
Dhruva appreciated the measures to increase FDI limit in defence manufacturing to 74%, permitting commercial mining in the coal sector, privatisation of power distribution companies in Union Territories, boosting private participation in space activities among others.
The measures contain several structural reforms and are indeed far reaching.
While some of the announcements in the mineral sector (particularly relating to Coal) are policies which have already been initiated by the Government in the last few years, there are others which should go a long way in not only promoting indigenous production but also ensuring equitable participation from foreign investors and the domestic private sector, noted Dhruva. fiinews.com
