Prime minister narendra modi announced a special economic package of Rs 20 lakh crore (equivalent to 10% of India’s GDP) with the aim of making the country independent against the tough competition in the global supply chain and to help in empowering the poor, labourers, migrants who have been adversely affected by COVID On 12 may .
Atmanirbhar Bharat has been called by some as a re-packaged version of the Make in India movement using new taglines such as ‘Vocal for Local’.
As part of the Atmanirbhar Bharat package, numerous government decisions have taken place such as changing the definition of MSMEs, boosting scope for private participation in numerous sectors, increasing FDI in the defence sector; and the vision has found support in many sectors such as the solar manufacturers sector.
The growth of India’s personal protective equipment (PPE) sector from zero before March, to 1,50,000 pieces a day by the beginning of May, is considered as a fine example of a self-reliant India. The PPE industry in India has become a ₹7,000 crore (US$980 million) in two months, the second largest after China. The largest fund in the country worth ₹21,000 crore (US$2.9 billion) was setup by the IIT Alumni Council with the aim of supporting the mission towards self-reliance.
This self-reliant policy does not aim to be protectionist in nature and as the Finance Minister clarified, “self-reliant India does not mean cutting off from rest of the world”. The law and IT minister, Ravi Shankar Prasad, said that self-reliance does “not mean isolating away from the world. Foreign direct investment is welcome, technology is welcome , self-reliant India… translates to being a bigger and more important part of the global economy.
The Five pillars of Atmanirbhar Bharat focus on:
- Vibrant Demography and
The Five phases of Atma nirbhar Bharat are:
- Phase-I: Businesses including MSMEs
- Phase-II: Poor, including migrants and farmers
- Phase-III: Agriculture
- Phase-IV: New Horizons of Growth
- Phase-V: Government Reforms and Enablers
Some details about phases of aatma nirbhar bharat :
Rs 3 lakh crore Collateral free Automatic Loans have been announced for businesses including MSMEs. Some welfare measures include:
- 1)Rs 50,000 crore equity infusion through MSME Fund of Funds
- 2)reduction of EPF contribution for businesses and workers for 3 months
- 3)extension of due date of all income tax returns for FY 2019-20 till Nov 30, 2020
- 4)Rs 45,000 crore Partial Credit Guarantee Scheme 2.0
Poor including farmers and migrant workers
- Free supply of food grains to migrants for 2 months
- Affordable Rental Housing Complexes for migrants/urban poor
- Rs 5000 crore Special Credit Facility for street vendors
- Rs 30,000 crore Additional Emergency Working Capital Funding for farmers through NABARD
- Rs 2 lakh crore Concessional Credit Boost to 2.5 crore farmers through Kisan Credit Cards
Agriculture, Animal Husbandry, Fisheries
- Rs 1 lakh crore Agri Infrastructure Fund for farm gate infrastructure for farmers
- Rs 20,000 crore for fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY)
- Rs 15,000 crore for Animal Husbandry Infrastructure Development Fund
- Rs 500 crore for beekeeping initiatives
- Amendments to Essential Commodities Act to enable better price realisation for farmers
- Agriculture Marketing Reforms to provide marketing choices to farmers
- Agriculture produce price and quality assurance
New Horizons of Growth
1.Policy reforms to fast track investment to pave way towards Aatma Nirbhar Bharat
2. Policy reforms in coal sector, mineral sector, defense production
3. Private participation in space activities
4. More world class airports through PPP
Government Reforms and Enablers
1.Rs 40,000 crore increase in allocation for MGNREGA to boost employment
2. Health reforms and initiatives to increase investment in public health and to prepare the nation for future pandemics
3. Technology driven education with equity post COVID
4. Enhancement of Ease of Doing Business through IBC related measures
5. Public Sector Enterprise Policy for a Self Reliant India
These all policies can be successful when, india accept the ‘make in india’ products .
After this successful completion India would definitely become the aatma nirbhar and self reliant india in all over the world.