aatmanirbhar bharat speech
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Atmanirbhar Bharat is a vision of the Prime Minister of India, Narendra Damodar Das Modi of making India a self-reliant nation.
The first mention of this came in the forms of the “Atmanirbhar Bharat Abhigyan” or “Self-reliant India mission”. During the announcement of the corona virus pandemic related economic package on 12 May 2020. 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 the rest of the world”. Foreign direct investment is welcome, technology is welcome. Atmanirbhar India translates to being a bigger and more important part of the global economy.”
The intended objective of this plan is two-fold. First, Interims such as liquidity, infusion and direct cash transfers for the poor will work as shock absorbers for those in acute stress. Second, long term reforms in growth-critical sectors to make them globally competitive and attractive. Together these steps may revive the economic activity, there are several challenges that are needed to be addressed in order to fulfil the vision of this plan.
If we looked into the three sectors of Indian economy,
Primary sector: In order to revive the lost economy of the primary sector, people those who depend on agricultural sector to enable them to stand up from the backlash of the pandemic situation, the economic package was introduced. The measured reforms to amend ECA,APMC, contract farming, etc. announced for the agricultural and allied sectors are particularly transformative.
Secondary sector: Due to this corona pandemic several people who were working as migrant workers returned to their native places to reduce the affected rate. As a result it affects the production results of that unit to have a downfall. Hence due to this MSMEs(Micro, Small & Medium Enterprises) were given 3 lakh crore collateral free loan facility under the package to help this finance-starved sector and thereby provide kick to the dismal state of economy without depending on foreign and international companies.
Tertiary Sector: Due to this those in tourism part i.e. hotels, guides, restaurants are facing finance scarcity due to closedown of all these ,the educational institutions, parks transport services, etc. have all been closed. Hence the government had adopted a balanced approach in addressing a concerns across sectors
For the overall recovery of the indian economy and to bring it back to the maintrack from which it was derailed. It is a collaborative work of both the government and industrialists. To take initiative as early as possible so that we could revive soul of India.