Aatmnirbhar Bharat Abhiyan in India or Self-reliant India is the new ray of hope in the form of a scheme initiated by India's Government. The Aatmnirbhar Bharat scheme lays the foundation stone for the long-term reformation and growth in the Indian Economy's crucial sectors that would lead to raised per capita GDP in the hour of crisis. Aatm Nirbhar Bharat Abhiyan in India is like a dream come true for plenty of business setups, migrants, vendors, indigenous families, etc. The Aatmnirbhar Bharat Abhiyan in India has played a cosmic role in the lives of suppressed sectors and people and has been a great success in converting the time of crisis into opportunity. The scheme has proved to be a blessing in disguise for most business organizations and people tremendously affected by the pandemic. The primary reason behind launching the strategy was to pursue those policies that are efficient, competitive, long-lasting, and resilient. The scheme resulted from India's efforts, which could sense the atrocities suffered by the majority of Indians and came up with this thought to revive the people's distorted lives.
On Tuesday, May 12, the whole world was waiting for the next step of the Indian Government; our Prime Minister Narendra Modi came up with the scheme of Aatmnirbhar Bharat Abhiyan as a sigh of relief to millions of uprooted business and lives of the people. Aatmnirbhar Bharat Abhiyan popped up as a shower of rain in the barren land, bringing relief for restoring the Economy and suppressed classes. The Aatmnirbhar Bharat yojana is the economic package announced in various tranches for refilling the empty pockets and stomachs who suffered a lot amidst the coronavirus crisis.
Union Finance Minister of India Nirmala Sitharaman made an announcement in a press conference regarding new fresh stimulus measures in the list of stimulus notifications - Atmanirbhar Bharat 3.0. Under Atmanirbhar Bharat 3.0, Indian folks have earned Diwali gifts from the central government via an eagerly-awaited stimulus package to provide the much-needed boost to the Indian economy. This announcement aims to uplift the COVID-19 hit economy and incite employment in the formal & informal economy, simplifying the process of carrying out business, increasing the deadline for the CLGS Scheme (Credit Line Guarantee Scheme), improve housing infrastructure, and more.
Aatmnirbhar Bharat Abhiyan in India is the stimulus package worth Rs 20 lakh crore that got allotted for different sectors to impede this pandemic's adverse effects. It is an economic relief package that has emerged as a light at the end of the tunnel for various uprooted sectors and people. As the name suggests, Aatmnirbhar Bharat scheme aims at making the people of India and the Nation self-sufficient in every manner by relying more on local goods rather than imported goods. The scheme facilitates to convert the period of crisis into opportunity by availing the means of livelihood, reliefs, and exemptions to many.
As per the source, the package announced under Aatm Nirbhar Bharat Abhiyan worth Rs 20 lakh crore is equivalent to 10% of India's GDP. Our Prime Minister said that to deal with the current economic imbalance for COVID-19, we all need to focus on the Self-reliant Mission. He also stated that the Government should deliver more information about the financial package under Aatmnirbhar Bharat scheme in the coming days, announced in tranches. Our Finance Minister, Nirmala Sitharaman, later told about the five tranches of the economic package under Aatmnirbhar Bharat Abhiyan in India. She also provided the detailed break-up of the 20, 97,053 crore package via a press conference.
This overall package includes INR 1.92 lakh crore measure announced by the Government as the Pradhan Mantri Garib Kalyan scheme. The monetary and fiscal measures announced by RBI were earlier in addition to the package. The Finance Minister has unveiled the tranches back to back accordingly for each crucial sector under Aatmnirbhar Bharat Abhiyan. She also has added how the stimulus package of Rs 20lakh crore will boost the Indian Economy with proper classification in favor of the Aatmnirbhar Bharat Yojana.
In the speech, Modi Ji presented this new economic package of the Aatmnirbhar Bharat Abhiyan in India as one that would address the majority of businesses and workers' needs and enable India to become more self-reliant. The Aatm Nirbhar Bharat Abhiyan in India shall cover five pillars: "economy, infrastructure, technology-driven system, vibrant demography and demand" and would further involve "land, labor, liquidity, and laws." He also gave the example that India's production of personal protective equipment (PPE) earlier in the pandemic was quite limited. Now more than 200,000 PPE kits and N95 masks are manufactured in India daily under Aatmnirbhar Bharat Abhiyan.
Our prime minister clarified that being Aatmnirbhar Bharat Abhiyan or self-reliant mission does not mean cutting off from the outside world, isolation, or solidarity; it is more or less about self-sustaining and self-generation. In no way a self-reliant scheme aims to be protectionist. The scheme's proponents have clearly expressed that India shall always welcome foreign direct investment, technology, ideas with open hands. It seeks to translate it into being a more significant and most crucial part of the Indian Economy. The world's current situation tells us that being Aatmnirbhar under Aatmnirbhar Bharat Abhiyan or self-sufficient is the only path that can pull us out from the dark phase. To promote the same Government of India through Aatmnirbhar Bharat, Abhiyan focuses on being self-reliant and has initiated the slogan of "going vocal for local." Go vocal for local does not only aims at manufacturing local products but also promoting the same.
The intended objective of the Aatmnirbhar Bharat Abhiyan in India is two-fold:
Due to the long-lasting lockdown phases, India has come to a very crucial stage. Indian culture has always backed the concept of being Self-Reliant. Our Prime Minister explained the mission of this Aatmnirbhar Bharat Abhiyan as not being self-centric but being self-sufficient to bring co-operation and peace to the world. The Aatm Nirbhar Bharat Abhiyan in India is a re-packaged version of the 'Make in India' concept with more benefits for the MSME sector, motivating private participation in various sectors, escalating foreign direct investment in the defense sector, and many others. The primary objective is the economic reform that will restore economic growth to its desired level.
Talking about the vision for the Aatmnirbhar Bharat Abhiyan, The Prime Minister urged to come up with a detailed analysis of every sector and think big in a new way. He further added that Intent, Inclusion, Investment, Infrastructure, and Innovation are critical factors for India in responding to a high growth trajectory. According to him, such reforms are a systemic, planned, integrated, inter-connected, and futuristic process for the Nation's overall development. In his vision, he aims to promote local products and suggest everyone improve the quality, modernize the supply chain, and provide the best products. He emphasized more on inner strength and self-belief for making this Aatmnirbhar Bharat Abhiyan a successful mission.
The benefits and reliefs under Aatmnirbhar Bharat Abhiyan in India are available for the cottage industry, home industry, small-scale industry, MSME, laborers, farmers, middle-class people, and those Indian industries which are working to boost our Economy consistently and dedicatedly.
Important areas upon which the scheme shall lay its benefits include:
The key highlights of the Aatmnirbhar Bharat Abhiyan in India are:
The Finance Minister of India, Nirmala Sitharaman, under Aatm Nirbhar Bharat scheme, did announce the package in five tranches in a press conference. The package is inclusive of Rs. 1.7 Lakh crore of free food grains to the poor and cash flowed to poor people and liquidity measures and interest rate cuts by the Reserve Bank of India, which amounts to Rs. 8.01 lakh crore.
The Finance Minister has unveiled the tranches under Atma Nirbhar Bharat Abhiyan in India as:
A total INR 5, 94,500 crore allotted for this tranche under Aatmnirbhar Bharat Abhiyan in India, which shall solely focus and emphasize strengthening India's backbone and Economy. MSME is the real backbone of the Indian Economy; central banks and the Government are taking all possible measures to uplift small scale sectors' growth and development. Actions taken in the first tranche includes the following:
After the first announcement of the installation package, our Finance Minister Nirmala Sitharaman introduced the second tranche, mainly focusing on the Migrant laborers, farmers, and street vendors. INR 3,10,000 Crore allotted for the second tranche under Aatmnirbhar Bharat Yojana. The detailed elaboration of the measures taken by the Government in this regard includes:
A rental housing scheme is initiated for urban poor and migrant workers under PM Awas Yojana under which Government housing converted to an affordable loan for migrant laborers and workers. It will cost INR 11,000 Crore to the Government for providing food and shelter to migrant workers.
In addition to these specified measures, the Finance Minister also added other reforming labor laws. There are few specific future steps in favor of the migrant workers taken up by the Government for the migrant workers:
Under the third tranche of Aatmnirbhar Bharat Abhiyan in India, the Government has focused on agricultural reforms. Under this tranche, the main aim is to strengthen agrarian sectors, animal husbandry, fishery, and dairy. The Government announced an overall sum of INR 1.5 lakh crore as the agricultural infrastructure fund. Finance Minister Nirmala Sitharaman came up with other necessary economic measures that solely focused on developing better infrastructure and capacities in rural areas. These additional measures, such as governance and administrative reforms, are also included in the list.
Aatm Nirbhar Bharat Abhiyan in India also focuses on the legal framework related to the agricultural sectors, including making amendments in the Essential Commodities Act, 1955. The Government is willing to bring the agrarian marketing reforms to increase farmers' marketing choices through central law. It will help the farmers expand their business in the open markets, large retailers, and exporters transparently.
Under the Aatmnirbhar Bharat Abhiyan, the Government announced a fourth tranche worth INR 20 lakhs in favor of eight critical sectors like coal, defense, minerals, airspace, etc. The fourth and fifth tranches have an equal value of INR 48,100 crore, including the additional figure of INR 40,000 crore for MNREGA for creating job opportunities amidst the nationwide lockdown. And INR 8100 crore is in favor of viability gap funding.
In the last and fifth tranche of Aatmnirbhar Bharat Abhiyan, our Finance Minister announced an additional package of worth INR 40,000 crore in seven steps for MGNREGA, health and education, decriminalization of Companies Act, Ease of Doing business, state government funds, and others.
The COVID-19 pandemic has changed the economic and social infrastructure of India. The world is now standing at the edge of a massive financial breakdown. India is going through an economic downturn while announcing 10% of the GDP under Atma Nirbhar Bharat Abhiyan in India is a bold decision. Many sectors have already gained the relief funds, and other measures shall come in action soon to the respective sectors under Aatmnirbhar Bharat Abhiyan. But it depends very much on how these measures and schemes of Atma Nirbhar Bharat Abhiyan will draw a rising curve favoring India's economic growth line. While the stimulus package under Aatmnirbhar Bharat Abhiyan in India offers relief to various sectors, every Indian citizen has a significant role to play. The Prime Minister urged each of the citizens to promote local products and use Indian products comparatively. This, in turn, will enhance the domestic products, and people will start depending upon local goods and products, thereby contributing to the Economy.
Aatmnirbhar Bharat Abhiyan in India played a vital role in improving the economic condition of India. It has lived up to our expectations in restoring the ruined conditions of various sectors and the people's lives. Under the Atma Nirbhar Bharat Abhiyan in India, the financial assistance got distributed as per the needs of the industry.
Aatmnirbhar Bharat Abhiyan in India has been a great success and is implemented successfully in all the relevant sectors. As an Aatmnirbhar Sena, we are also contributing relentlessly to provide round-the-clock assistance to all the budding entrepreneurs and business establishments and help them establish their venture and secure a new means of livelihood for them. We have left no stone unturned in presenting this Atma Nirbhar Bharat Abhiyan in India, a successful mission by being their strength in this hour of need. The post-COVID-19 era may usher in unprecedented opportunities under Aatmnirbhar Bharat Abhiyan, provided the implementation deficit is effectively addressed. Atma Nirbhar Bharat Abhiyan in India is a success story for all of us.