SELF-RELIANT INDIA MOVEMENT: AN OPPORTUNITYJune 24, 2020
At a time when the world is suffering from a deadly pandemic, India plans to convert this crisis into an opportunity and strengthen its fight by becoming Aatmanirbhar or self-reliant.
The term was coined by the Prime Minister of India, Mr Narendra Modi during his address to the nation on May 12, 2020. He called this campaign as Aatma Nirbhar Bharat Abhiyaan (Self- Reliant India Movement). He also defined five pillars of Aatmanirbhar Bharat – Economy, Infrastructure, System, Demography and Demand. He stressed upon the fact that it is time to become vocal for our local products and make them global. Under this campaign, a special economic package has been released by the government, which will benefit various segments including cottage industry, Micro, Small and Medium Enterprises (MSMEs), labourers, middle class, and industries, among others.
The economic package that was announced by the Prime Minister along with various packages released during the lockdown period comes to around Rs 20 lakh crore (US$ 283.73 billion), which is about 10 per cent of India’s GDP. It is expected to provide support and strength to various sections of the country and give a renewed boost to the development journey of the country in 2020. In order to prove the determination of a self-reliant India, Land, Labour, Liquidity and Laws have all been emphasized in this package.
Minister of Finance & Corporate Affairs, Ms Nirmala Sitharaman made all the announcements related to various sectors on different days, split under five tranches and giving detailed information about the steps being carried out by the government.Businesses including MSMEs,Poor, including migrant and farmers,Agriculture with New Horizon of Growth in Coal,Mineral,Power Sector,Social Infrastructure Sector,Employment Generation,Healthcare Sector,Ease of Doing Business for Corporates have been focussed.