Aatmanirbhar Bharath initiative and progress so far
2020 has not been a better year for many countries due to the rapid spread of Covid-19. The disease impacted the country’s economy on a large scale, thus further damaging the growth and progress. India is facing one of the great economic crises in the form of coronavirus. In relation to this pandemic, India’s prime minister on 12th May 2020 came out with one important package Atmanirbhar Bharat Abhiyan. In this Abhiyan, he promised Rs 20 lakh crore of the economic package which amounts to 10% of the GDP of India to revive the economy and address the issues affecting various sections of people. A series of announcements were made from May to June. In these announcements, the Finance Minister of India Nirmala Sitharaman detailed how this economic package is going to be implemented in India.
Atmanirbhar Bharat is the mission and vision of Narendra Modi and it means Self-Reliant India. Self-reliance has been a long-term objective of Indian planning. Self-reliance doesn’t mean cutting off the world. It means that it is possible to produce the products and eventually play a larger role in the global economy.
The 5 pillars of the Atmanirbhar Bharat Abhiyan focuses on
1. Economy
The Prime Minister said that there should be a quantum jump in the current adversity and must convert this adversity into an advantage by taking a quantum jump in economic reforms.
2. Infrastructure
A robust infrastructure is going to be built in the coming decades to attract most of the manufacturing units to India.
3. System
All the systems must be technology-driven so that they need not have to follow the old rules rather follow the new ones.
4. Demography
India has one of the highest populations and needs to skill the population in such a way that maximum output is extracted.
5. Demand
India is one of the largest markets in the world and if it is to be benefited it is important to strengthen the demand and supply chain to utilize it intelligible as to satisfy the customers.
The five phases Atma Nirbhar Bharat Abhiyan :
Phase I
Business including MSMES
It focuses on MSME along with business and provides credit facilities for the MSME sector. The economic package of Rs 5, 94,550 Crore was launched in phase I.
Phase II
Poor, including migrants and farmers
The economic package of Rs 3,10,000 Crore has been launched so as to provide free food grains for migrant workers, support farmers with special credit facilities, and provide collateral-free loans.
Phase III
Agriculture
Focus on agricultural productions, infrastructure, animal husbandry, the fishing sector, and the economic packages of 1, 50,000 Crore is launched in phase 3.
Phase IV
New horizons of growth
It focuses on new horizons of growth discovering for Indian economy.
Phase V
Government reforms and enablers
It is related to government reforms and various enabling decisions taken by the government of India, the total economic package under 4th and 5th phase are Rs 48,100 Crore.
