Tag Archives: Nirmala Sitharaman

Indian Institute of Heritage and Conservation to be set up under the Ministry of Culture

Setting up of an Indian Institute of Heritage and Conservation with the status of a deemed university under the Ministry of Culture, has been proposed by Finance Minister Nirmala Sitharaman in her budget speech. Prahlad Singh Patel, Minister of State (I/C), Tourism and Culture, has expressed his happiness with this announcement and has said, “The much-awaited Indian Institute of Archaeological and Conservation was announced in the Budget. This will enable trained, qualified persons to conserve manuscripts, including monuments, museums. All partner institutions will benefit.”

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Hike in FDI in aviation; infrastructure & railways in focus; 17 iconic sites expected; GST simplified

Finance Minister Nirmala Sitharaman announced the Union Budget today, where she shared that the Government will take steps to hike FDI cap in aviation. She also said that India will enter aircraft financing and leasing activities. For tourism, it was announced that the Government will build 17 iconic sites to encourage arrival of tourists in India. It was also mentioned that the GST process will be simplified. A massive railways modernisation programme will also be launched this year. Apart from that, the government will undertake strategic divestment of Air India and other PSUs this fiscal. They will also work towards consolidating non-finance central PSUs via mergers and raise foreign shareholding till maximum limit in PSUs. Government has set ₹1.05 lakh crore divestment target for Financial Year 2020. Government has decided to open Indian embassies and high commissions in countries where India doesn’t have a resident diplomatic mission, and under this scheme it has approved opening of 18 new embassies in Africa and will open four new embassies in 2019. Other highlights of the budget include—125,000 km of road to be upgraded over next 5 years at a cost of 802.5 billion rupees; expansion of Swachh Bharat mission to undertake sustainable sold waste management in every village; making of PAN card and Aadhar card interchangeable for ease of taxpayers.

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