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Nirmala Sitharaman Announced The Fourth Installment Of The Economic Stimulus Of Rs 20 Lakh Crore

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Nirmala Sitharaman Announced The Fourth Installment Of The Economic Stimulus Of Rs 20 Lakh Crore

Union Finance Minister Nirmala Sitharaman on Saturday unveiled the fourth installment of the government’s Rs 20 lakh crore economic package to provide relief to various sectors of the economy affected by the coronavirus lockdown.

In the first three installments, the government announced several measures for the agriculture sector, amending the stringent Essential Commodities Act, credit lines to small firms, concessional loans to farmers, free grain to migrant workers, working capital incentives and support for street vendors. be provided. Shading banking and power distributors among other initiatives.

Highlights of the Finance Minister’s address are as follows:

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  • FDI limit in the defense manufacturing sector is being raised from 49 percent to 74 percent under the automatic route.
  • Project management units will be set up to support contract management, for time-bound defense procurement process, and faster decision making.
  • In important areas like defense, we have to promote programs like Make in India. We will notify the list of weapons and platforms that will not be allowed to import but we may have purchased them from India.
  • The power distribution companies in the Union Territories will be privatized as per tariff policy reforms. This will provide better service to consumers and improve operational and financial efficiency in delivery.
  • We will corporate with the Ordnance Factory Board to improve autonomy, accountability, and efficiency in the ordnance supply.
  • Civil aviation is in for a big jump. We will be able to reach our destination in the least possible time-saving fuel, time, cost.
  • 6 more airports are up for auction. There is a possibility of additional investment by private players.
  • The tax regime has been rationalized for the MRO ecosystem. The airport component repair and airframe maintenance will increase from Rs 800 crore to Rs 2,000 crore in 3 years.
  • Restrictions on the use of Indian airspace will be reduced so that civilian flight is more efficient. This would give a total profit of Rs 1,000 per year for the sector.
  • To provide a level playing field for private companies in satellites, launches, and space-based services, the private sector is being encouraged to become a co-passenger in our space field journey.
  • The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacity.
  • We will set up a research reactor in PPP mode for the production of medical isotopes. It will promote the welfare of humanity through affordable treatment for cancer and other diseases.
  • We will connect India’s strong start-up ecosystem with the nuclear sector. Technology development cum incubation centers will be set up to foster synergies between research faculties and tech-entrepreneurs.
  • The government will set up facilities in PPP mode to use radiation technology for food conservation to support agricultural reforms and farmers.
  • Creation of social infrastructure projects worth Rs 8,100 crore, which has been proposed through the restructured feasibility gap funding scheme.
  • The government will increase the amount of viability gap fund up to 30 percent of each of the total project cost.
  • We are bringing commercial mining to the coal sector, the government monopoly is being lifted.
  • 50,000 crore will be spent by the government to ensure extraction infrastructure in the coal sector.
  • We want to bridge the gap between captive and non-captive mines to allow the transfer of mining leases.
  • 500 mining blocks will be offered through an open and transparent auction process, a joint auction of bauxite and coal mineral blocks will be launched to increase the competitiveness of the aluminum industry.
  • Coal bed methane (CBM) extraction rights to be auctioned from coal mines of Coal India Limited.
  • The empowered group of secretaries has been formed for fast-track infrastructure investment, ranking states for investment attraction, project development cells have been formed, champion areas are being promoted.
  • We need to reduce sustainable coal imports and increase self-sufficiency in coal production.
  • The schemes will be implemented in the states through challenge mode for industrial cluster up-gradation of common infrastructure and connectivity.
  • 3,376 industrial parks/estates in 5 lakh hectares mapped on International Information System, all industrial parks will be ranked in 2020-21.
  • Eight sectors that are focused on today’s reforms: coal, minerals, defense, civil aviation, power distribution companies in union territories, space, nuclear power.
  • Today’s announcements focus on structural reforms in new areas where development and employment can be generated.
  • When we talk of self-reliant India, we are not talking of separatism or inward-looking.
  • We should prepare ourselves for global competition. Policy simplification is required.
  • Many sectors need policy simplification to make it easier for people to understand what the sector can provide, participate in activities, and bring transparency. Once we reduce the areas, we can promote the sector, for development and jobs.
  • After PM’s address to the nation about the creation of India, we are announcing the details of the stimulus government, it seems that it should provide for the economy and our people.

Also Read: Follow This Diet To Stay Healthy While Working From Home 

Tollywood

HT Rewind 2024: Teja Sajja says HanuMan kicking off the year in style is the moment he’d been ‘waiting for’ | Exclusive

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HT Rewind 2024: Teja Sajja says HanuMan kicking off the year in style is the moment he’d been ‘waiting for’ | Exclusive

In conversation with Hindustan Times, Teja Sajja decodes the success of HanuMan and other Telugu films, talks about his upcoming projects, and more.
When Prasanth Varma’s superhero film HanuMan, starring Teja Sajja, was announced to be released alongside big films like Mahesh Babu’s Guntur Kaaram, Venkatesh’s Saindhav and Nagarjuna’s Naa Saami Ranga in January this year, no one expected the underdog to emerge on top. And yet, the film, made on a budget of under ₹50 crore, managed to collect over ₹300 crore at the box office worldwide in 25 days, becoming one of the highest-grossing Indian films for the year. (Also Read: Ranveer Singh met HanuMan actor Teja Sajja, complimented him even after his Prasanth Varma film Rakshas got shelved)

Ask Teja about the moment he realised his film had not just fought against the tide but also risen to the top; he tells Hindustan Times in an exclusive conversation, “Since I returned to acting (as a lead actor after being a child artiste since 1998), this is the moment I’ve been waiting for. When everything from the HanuMan teaser to the songs was grabbing attention, we knew we had hit a gold mine. But I don’t think we imagined it would cross the ₹300 crore threshold. We were so satisfied with the opening numbers; everything else was a bonus.”

‘Success has given me fear of disappointing people’

Teja acted in Zombie Reddy, Ishq and Adbhutham before HanuMan, but they are what you would call ‘critical successes’, adding to his repertoire as an actor who can perform. But things have changed for him now, says Teja, who is being picky about the roles he says yes to. “Success either makes you overconfident or gives you the fear of disappointing people; I have the latter,” he explains.

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Teja admits he wants to chart out his career in Hrithik Roshan’s footsteps, but not in the way you think. “I have such a fondness for Hrithik due to Koi Mil Gaya and Krrish. No matter how well he performed after that, these left a lasting impression on me; I’m sure 90s kids will agree,” he says, adding, “Similarly, I’ve realised that I have an audience in children now. I want to be conscious of that when I pick roles. I want to make films families can enjoy together.”

But despite people in places like Mumbai or Delhi recognising him, Teja says he’s clear that he wants to cater to the Telugu audience first. “I am conscious that I am making films for my playground – the Telugu states. This is the sensibility I have grown up with, and I don’t know if I can cater to everyone else. Will I promote my films in other languages? Sure. But I also can’t be part of films that aren’t authentic to what I know or understand,” he explains.

‘Rootedness has put us on the world map’

And authenticity seems to be the need of the hour. Be it Baahubali and RRR or the recently released Pushpa 2: The Rule, Kalki 2898 AD and Devara: Part 1, certain kind of stories seem to be finding success. “Rootedness and going local is proving to be such a boon for us, be it in Devara or Pushpa or HanuMan. Kalki 2898 AD was our version of a Hollywood film (the sci-fi concept) with actors from across languages in predominant roles; it put us on the world map,” reflects Teja.

However, the actor admits Tollywood went through a phase of Bollywood-inspired rom-coms and family dramas that worked in their favour for a while. “That wasn’t easy to replicate either, but it’s just that these local stories are what the audience seems most interested in now. It can’t just be chalked up to religion, too. It’s about the morals these films are hinged on, the fighting for righteousness, and how an underdog can find their strength. Introducing Mahabharata or Ramayana to a new audience in a cool way is just a perk,” he says.

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And it’s this rootedness that Teja says his next films, Mirai and Jai Hanuman (the sequel to HanuMan), will also have ample of. “Mirai is also a superhero film that caters to kids, but it’s not an origin story like HanuMan. It has a pan-Asian and Buddhist touch because the story is based on King Ashoka’s ideologies. I hope that I will get to deliver something new to the audience again. I will only feel like I’ve arrived if Mirai is equally, if not more, successful,” says Teja.

Rishab Shetty will headline Jai Hanuman, but Teja also looks forward to shooting that. “I can’t wait to be on that set; it’ll be exciting. Now that we know India is ready to watch our films, I want to step it up. I want to shift gears and shoot for at least two films in 2025,” he says. As for what he will do next, Teja says he wants to up the ante. “When I got a SIIMA award for Zombie Reddy as a debutant, I remember telling Prasanth this would be the last award I get. But now that I won a Radio City Cine Award for Best Actor, I hope more awards will follow,” he signs off cheekily.

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