Finance Minister Nirmala Sitharaman on Friday said that the country is well within its capacity to become a $5 dollar economy in the next five years.
Here are the key takeaways:
From $1.85 trillion in 2014, the economy has reached $2.7 trillion
We are well within our capacity to reach $5 trillion in the next few years
Economy will grow to become a $3 trillion economy in the current year itself
Between 2014 and 2019, we provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline
Several reforms would be undertaken to promote rental housing, current rental laws are archaic as they do not address lessor-lessee relationships fairly
Upfront incentives on purchase of electric vehicles, greater emphasis on affordable and eco-friendly public transport
Private players to play a significant role in railways
One Nation One Grid for for affordable power, propose to have gas and water grids also
Listing Social enterprises and voluntary organisation a priority so they can raise capital
Bharat Mala 2.0 to focus on states to build their road networks
Village, poor and farmers are at the centre of all of this govt's programmes
Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation AVGC and insurance sectors in consultation with all stakeholders. 100 per cent FDI will be permitted for insurance intermediaries
Railway infra would need an investment of 50 trillion between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services
Local sourcing norms for FDI to be eased for single-brand retailing sector
Electronic Fundraising Platform, a social stock exchange, to be set up to list social enterprises and voluntary organizations working for social welfare objectives
FM Nirmala Sitharaman says Sebi has been asked to condier increasing minimum public shareholding criterion from 25 per cent to to 35 per cent
By 2022, every single rural family except those who are unwilling to take the connection, will have an electricity and a clean cooking facility
NRI portfolio investment route to be merged with foreign portfolio investment route
To harness India's space ability commercially, a public sector enterprise, New Space India Limited (NSIL) has been incorporated to tap the benefits of Isro
80 Livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under ASPIRE to develop 75,000 skilled entrepreneurs in agro-rural industries
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