Essay on aatamanirbhar bhatat
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Explanation:
Atmanirbhar Bharat (English: Self-reliant India) is the vision of the Prime Minister of India Narendra Modi of making India a self-reliant nation. The first mention of this came in the form of the 'Atmanirbhar Bharata Abhiyan' or 'Self-Reliant India Mission' during the announcement of the coronavirus pandemic related economic package on 12 May 2020.[1] 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".[2] 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.
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Key Takeaways:
The government announced the “Atma Nirbhar Bharat Abhiyan” so as to revive every sphere of the economy from demand, supply to manufacturing, and make India self-reliant to sustain and tackle any Black Swan event in the future.
The package is divided into four tranches, where each tranche has their own focus areas.
The package’ score focus is on MSMEs and agriculture and its allied activities.
However, the package fails to bring optimism and confidence among the corporate as it focuses more on indirect benefits, with a major focus on loan disbursal.
It would have been for the benefit of the corporate if the government would have provided direct benefits like cash support and pause or reduction in GST payments.
This would have helped in reducing the prices of the products, thus leading to higher demand
The world’s biggest lockdown imposed to contain the spread of COVID-19 has severely impacted the domestic economic activities as it brought nearly 70% of economic activity, investment, exports, and discretionary consumption to a standstill.
And will eventually drag down the GDP growth of the country to negative single-digit band for FY21E.
So, to improve the prevailing turbulent economic environment and to provide a boost to the ailing economy the current government announced the Atma Nirbhar Bharat Abhiyan, a financial package of Rs 20 lakh crore equaling to 10% of the national GDP.
What is the concept behind Atma Nirbhar Bharat Abhiyan ?
The focal point of the concept is to make the nation self-reliant with more focus on local manufacturers and service providers.
This will strengthen the economy, improve the standard of living and most importantly improve the trade deficit and the exchequer balance of the country.
Making the country self reliant in all spheres- from manufacturing to supplying. It will help the country to reduce its dependence on imports and may also give a boost to exports.
The fall in imports will help reduce the trade deficit and will eventually lead to trade surplus.
And will also ensure that the country is able to sustain and tackle any black swan event that may emerge in future.
As per Prime Minister Narendra Modi, the fiscal stimulus will help revive every sphere of the economy- from demand, supply to manufacturing.
The package will focus on land, labour, liquidity and laws, so as to achieve self-reliance. The relief measures were announced in tranches by the Finance Minister Nirmala Sitharaman.
Atma Nirbhar Bharat Abhiyan Package Breakup
Now, let us take a look at the complete break-up of the package launched to make India ‘self-reliant’ amid and post Covid-19 times.
Tranche 1-
These set of relief measures are worth Rs 5,94,550 crore and includes funding as well as loan guarantees for MSMEs, NBFCs/HFCs, discoms, contractors, real estate and salaried workers.
Tranche 2-
These set of relief measures are worth Rs 3,10,000 crore with focus on migrant workers, small farmers, street vendors and the poor.
Tranche 3-
These sets of relief measures are worth Rs 1,50,000 crore. The core focus of these measures is on the agriculture and allied sectors like dairy, animal husbandry, and fisheries so as to strengthen the overall farm sector.
Tranche 4-
These sets of measures are worth Rs 48,100 crore with a focus on 8 critical sectors which are Coal, Minerals, Defence Production, Airspace management, Social Infrastructure Projects, Power distribution companies, Space sectors, and Atomic Energy.
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.
.
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The government announced the “Atma Nirbhar Bharat Abhiyan” so as to revive every sphere of the economy from demand, supply to manufacturing, and make India self-reliant to sustain and tackle any Black Swan event in the future.
The package is divided into four tranches, where each tranche has their own focus areas.
The package’ score focus is on MSMEs and agriculture and its allied activities.
However, the package fails to bring optimism and confidence among the corporate as it focuses more on indirect benefits, with a major focus on loan disbursal.
It would have been for the benefit of the corporate if the government would have provided direct benefits like cash support and pause or reduction in GST payments.
This would have helped in reducing the prices of the products, thus leading to higher demand
The world’s biggest lockdown imposed to contain the spread of COVID-19 has severely impacted the domestic economic activities as it brought nearly 70% of economic activity, investment, exports, and discretionary consumption to a standstill.
And will eventually drag down the GDP growth of the country to negative single-digit band for FY21E.
So, to improve the prevailing turbulent economic environment and to provide a boost to the ailing economy the current government announced the Atma Nirbhar Bharat Abhiyan, a financial package of Rs 20 lakh crore equaling to 10% of the national GDP.
What is the concept behind Atma Nirbhar Bharat Abhiyan ?
The focal point of the concept is to make the nation self-reliant with more focus on local manufacturers and service providers.
This will strengthen the economy, improve the standard of living and most importantly improve the trade deficit and the exchequer balance of the country.
Making the country self reliant in all spheres- from manufacturing to supplying. It will help the country to reduce its dependence on imports and may also give a boost to exports.
The fall in imports will help reduce the trade deficit and will eventually lead to trade surplus.
And will also ensure that the country is able to sustain and tackle any black swan event that may emerge in future.
As per Prime Minister Narendra Modi, the fiscal stimulus will help revive every sphere of the economy- from demand, supply to manufacturing.
The package will focus on land, labour, liquidity and laws, so as to achieve self-reliance. The relief measures were announced in tranches by the Finance Minister Nirmala Sitharaman.
Atma Nirbhar Bharat Abhiyan Package Breakup
Now, let us take a look at the complete break-up of the package launched to make India ‘self-reliant’ amid and post Covid-19 times.
Tranche 1-
These set of relief measures are worth Rs 5,94,550 crore and includes funding as well as loan guarantees for MSMEs, NBFCs/HFCs, discoms, contractors, real estate and salaried workers.
Tranche 2-
These set of relief measures are worth Rs 3,10,000 crore with focus on migrant workers, small farmers, street vendors and the poor.
Tranche 3-
These sets of relief measures are worth Rs 1,50,000 crore. The core focus of these measures is on the agriculture and allied sectors like dairy, animal husbandry, and fisheries so as to strengthen the overall farm sector.
Tranche 4-
These sets of measures are worth Rs 48,100 crore with a focus on 8 critical sectors which are Coal, Minerals, Defence Production, Airspace management, Social Infrastructure Projects, Power distribution companies, Space sectors, and Atomic Energy.
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.
.
.
.
.
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