Image Source: CNBC TV18

The Finance Minister Nirmala Sitharaman, on Saturday, announced that defence manufacturing FDI limit has been raised to 75 percent from 49 percent, subject to security clearances. She also said the government will ban imports of some weapons to promote indigenous production. In a press conference, she added that a list of weapons/platforms will be notified for the import ban. She also added that the government is looking to improve autonomy and accountability in ordnance. The finance Minister along with MoS Finance Anurag Thakur was addressing the fourth press briefing on the Rs 20 lakh crore economic stimulus announced by Prime Minister Narendra Modi earlier.