Prime Minister Narendra Modi launched a special economic relief package called the Atmanirbhar Bharat Abhiyaan on May 12, 2020, during the coronavirus crisis. This Atmanirbhar Bharat Abhiyan Scheme is also recognised as a Self-Reliant India Campaign. The package totals 20 lakh crores rupees, approximately 10% of India's GDP.

Modi announced that the ‘Atmanirbhar Bharat Abhiyaan’ aims to make India self-reliant. This will strengthen the country's economy and set a new direction for India's development. It does not promote isolation. Instead, it aligns with India's cultural value of "Vasudhaiva Kutumbakam." This means the whole world is one family, taken from the Maha Upanishad.

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This self-reliance initiative has five main pillars: Economy, Infrastructure, Systems, Demography, and Demand. After Modi's announcement, Finance Minister Nirmala Sitharaman revealed five separate economic relief packages. These aim to support growth in various sectors.

What Are The Goals Of The Self-Reliant India Initiative?

The goals of the self-reliant India program are:

• Strengthen local and regional manufacturers and service providers.

• Improve citizens' quality of life by focusing on trade deficits and balance of payments.

• Make the country and citizens self-reliant in all ways.

• Transform India into a global supply chain hub.

• Revive every part of the economy through increased fiscal stimulus.

• Emphasise self-reliance, focusing on resources like land, labour, liquidity, reforms and laws.

• Provide economic stimulus packages equal to 10% of India's GDP.

• Incentivize small businesses and farmers hurt by COVID-19 with special funds and support.

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Features Of The Self-Reliant India Initiative

Some key features of the self-reliant India mission to make India independent and self-sufficient include:

• Job creation by increasing funding for an existing employment guarantee program and a new scheme to formalise jobs.

• Increased health sector spending to build capacity and prepare for future pandemics.

• Reforms to promote technology-driven, equitable education through government programs.

• Easing business rules and supporting stressed industries and construction/real estate.

• Financial support for public enterprises and stressed sectors identified by a committee.

• Additional aid for farmers through a national bank and a micro-enterprise program.

• Raised state government borrowing limits to improve financing availability.

The Five Focus Areas Of The Self-Reliant India Campaign Are:

1. Economy - It aims for a big change rather than small steps, to turn challenges into opportunities.

2. Infrastructure - Modern infrastructure can define new India and showcase its progress.

3. Systems - Technology will drive progress rather than old rules and processes.

4. Democracy - A strong democracy will power self-reliance through people's participation.

5. Demand - Supply and demand chains will work together efficiently.

What Is The Importance Of Atmanirbhar Bharat Abhiyan?

Below mentioned points showcase the importance of Atmanirbhar Bharat Abhiyan:-

• Increase manufacturing's share of the economy and jobs. Manufacturing has not grown much in recent decades.

• Reduce imports and the budget deficit by boosting exports.

• Support local products from across India.

• Reform policies in farming, taxes, laws, workforce, and finance. Some policies are over 100 years old.

• Achieve self-reliance as described in ancient texts like the Mundaka Upanishad.

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Challenges include that the package funds may not all go to new spending. Credit easing takes time to boost the economy. Not enough focus on increasing demand for goods and services. State governments need more direct financial support for virus relief work.

The Stages Of The Atmanirbhar Bharat Abhiyan

The Self-Reliant India Campaign was announced in five stages to cover initiatives for different parts of the Indian economy. Finance Minister Nirmala Sitharaman announced details of the self-reliant India campaign in the following five stages.

Stages Name

Measures Taken

Trench 1

The first part of India's self-reliant program was announced on May 13, 2020. It mainly focused on small and medium-sized businesses.

Trench 2

The second part focused on migrant workers, farmers, small shops, and street vendors.

Trench 3

The third part focused on reforms for agriculture, including changes to administration and governance.

Trench 4

The fourth part focused on structural reforms in eight areas including coal mining and defense.

Trench 5

The fifth and last part focused on seven areas: health, education, job programs, relaxing business laws, and helping state governments.

Slogans Used For Atmanirbhar Bharat Initiative

Some of the slogans created as part of the AtmaNirbhar Bharat Initiative include "vocal for local", "local for global", "make for world", and "brain drain to brain gain".

Conclusion

The Atmanirbhar Bharat Abhiyan is a central government strategy that aims to provide a major boost to supply by increasing the availability of low-cost financing and assisting the agriculture and commercial sectors. However, there is also an urgent need right now to stimulate demand. People's purchasing power must be increased, and demand must grow for industrial products and services.

Visit the Official website of Atmanirbhar Bharat Abhiyan for detailed Guidelines or in case of any unsolved query