FM's announcements signal major economic reforms to realise goal of self-reliant India: Nadda

The BJP on Saturday said the structural reforms announced by the government in various sectors will attract investment and help India in realising its aim of becoming a USD 5-trillion economy.

"I congratulate Prime Minister Narendra Modi Ji for translating self-reliant India vision into reality with emphasis on procurement of indigenously produced notified weapons/platforms for armed forces, BJP president J P Nadda said.

In series of tweets, Nadda said that the indigenisation of imported spares will give a fillip to 'Make in India' and lower imports. Welcoming the announcements related to Rs 20-lakh crore economic package made by Finance Minister Nirmala Sitharaman on Saturday, Nadda said, These policy reform announcements will attract huge investments into defence, coal, mining, power, social infrastructure, aviation, space, atomic energy sectors and help in realising India's aim of a USD 5 trillion economy. Structural reforms will bring a new horizon of growth.

Nadda said that the announcements made by Sitharaman signal major economic reforms to realise the goal of self-reliant India envisioned by Prime Minister Modi.

These announcements will have direct impact on 10 key sectors of the economy and will significantly contribute to a stronger, self-reliant India, he said.

Terming the announcements as landmark reform initiatives, Union Home Minister and senior party leader Amit Shah suggested that this package is in line with the Modi government's mantra of reform, perform and transform, which has been key to phenomenal growth of the country in the last six years.

Sitharaman on Saturday announced the fourth tranche of an overall package of Rs 20 lakh crore to deal with the economic fallout of the COVID-19 pandemic.