Tranche 4 of economic reforms: 500 mineral mines to be leased, 'Make in India' push for defense sector
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FM Sitharaman said that 500 mineral mines would be leased as a part of commercialization to meet the demand of country and cut the import. The major development came in the defence sector, as the FM said import of some weapons will be banned and the forces will have to buy them locally. She said Ordinance Factory Board will step in to make indigenous weapons to support 'make in India' initiative. FDI limit also raised from 49% to 74%.