Write an essay on Self-Reliant India in 800 words
Answers
Answer:
Self-Reliant India Movement:
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.
Tranche 1 (Businesses including MSMEs)
The first measure being focussed on was the idea of Getting back to work i.e., facilitating employees and employers, businesses, especially MSMEs, to get back to production and workers back to gainful employment. Plans to strengthen Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs), Micro Finance Sector and Power Sector were also unfolded.
Decriminalisation of Companies Act violations involving minor technical and procedural defaults.
Majority of the compoundable offences sections to be shifted to internal adjudication mechanism.
Amendments to de-clog the criminal courts and NCLT.
Seven compoundable offences dropped completely while five among the existing to be dealt under alternative framework.
Ease of Doing Business for Corporates
Direct listing of securities by Indian public companies in permissible foreign jurisdictions.
Private companies which list NCDs on stock exchanges will not be considered as listed companies.
Provisions of Par IXA (Producer Companies) of Companies Act, 1956 to be included in Companies Act, 2013
Provision to create additional/ specialized benches for NCLAT.
Lower penalties for all defaults for Small Companies, One-person Companies, Producer Companies and Start-ups.
Public Sector Enterprise (PSEs) Policy for a New, Self-reliant India
Government plans to introduce new policy under which:
List of strategic sectors requiring presence of PSEs in public interest will be notified.
Private sector will be allowed in strategic sectors. Leading to privatisation of PSEs.
It will also increase the number of private enterprises in strategic sectors and decrease the public holding companies to one or four maxima.
Support to State Governments
Central government has extended its support to State government from 3 per cent to 5 per cent for 2020-21 only, providing states extra resource of Rs 4.28 lakh crore (US$ 60.72 billion).
Thus, the total funds provided by the government stood at Rs 20 lakh crore (US$ 2.84 billion) and is expected to strengthen the fight against COVID-19 and support the Indian economy.
Answer:
The essay is following:
Explanation:
Introduction:
In today's globalized world, all nations are connected. In this instance, the meaning of independence has also evolved.
Self-reliance is distinct from being self-absorbed. Vasudhaiva Kutumbakam is a principle that India holds dear.
India is a part of the world; as a result, as India develops, so does the rest of the world. In order to create an independent India, globalization will not be boycotted; rather, it will be supported in order to advance global growth.
Therefore, for us, a self-sufficient India entails maintaining global connectivity while enhancing the quality of people's lives through economic development.
The effort for a self-sufficient India aims to restore future India as well as combat the covid-19 pandemic.
The fight for an independent India has long been a component of Indian ideology. This notion is consistent with Mahatma Gandhi's notion of village swaraj.
According to Mahatma Gandhi, a true Gram Swaraj can only be achieved in a village when its residents are self-sufficient in providing for their needs.
In order to enhance the hamlet, he placed a strong emphasis on cottage businesses, particularly the promotion of charkha and khadi.
The goal is to create a rural economy based on Gram Swaraj itself following the catastrophe brought on by the coronavirus as a result of globalization.
Self-reliant India’s Strategy:
The government has concentrated on the four Ls: land, labor, liquidity, and law, as part of its strategy for an independent India.
Land: Without it, no enterprise can be founded. In this case, the land issue will be resolved to allow for the development of industries.
Industry and trade cannot exist without workers, but there are numerous difficulties with Indian labor law. To do this, logical laws must be created.
Liquidity: To keep the wheels of economic activity turning, liquidity is crucial.
Law: The nation has a lot of cumbersome rules that impede development, thus significant adjustments will be made to the law to open the door for self-reliance.
The reason behind criticizing the package:
It was anticipated that the self-Reliant India package, which was issued during the Coronavirus crisis, would offer significant respite from the situation.
However, the package's emphasis is more on long-term economic reforms than it is on the seeming immediate alleviation.
For two months, migratory workers and the destitute will receive a 5 kg ration per individual and a 1 kg gramme each household. The Direct Benefit Transfer payments are extremely meagre, and they have only been made to Jan Dhan account holders.
The large population who does not have an account has been denied such financial assistance in such a case.
Another critique is that approximately 90% of the package is tied to providing loans at lower interest rates, easing loan terms, and providing some interest rebates on lowering interest rates or making prompt payments.
The government, according to critics, need not spend a good amount of money. While prudent spending is required to stop the economy from getting worse.
Spending grows the economy's spending, which grows consumption, and consuming grows the economy's consumption, which also grows output. The cycle of economic activity is therefore initiated.
That is why a lot of economists were always urging that the poor be given money so that they could spend it and the trade cycle could pick up the pace.
Conclusion:
India will need to develop a top-notch infrastructure in order to entice global corporations with offices in China to invest there. The government must concentrate on expanding the manufacturing sector if it hopes to revitalize India's economy in this manner.
so that a substantial number of jobs can be created and the infrastructure of the nation can be improved. The concentration of industrialization in urban areas was one unfavorable effect of liberalization.
A self-sufficient India will not be able to advance solely through economic reform.
Instead, the government will need to advocate for comprehensive changes across the nation, concentrating on a number of areas such as labor reforms, civil service reforms, and skill reforms to ensure that the nation has access to qualified human resources.
Additionally, the tax structure needs to be rationalized. The government will need to adopt straightforward legislation.
So that the agricultural sector's supply chain-based reforms may benefit the rural economy, they must be promoted.
The growth of cottage and small-scale industries, including food processing, handicrafts, handloom, and village industries, should receive special emphasis in underdeveloped nations.so that local supply chains can be improved, local products can be recognized, and local jobs can be created. With this, the Indian economy will recover from the Coronavirus catastrophe in a new way.
#SPJ3