The Atma nirbhar Bharat package is an economic relief package meant to help the Indian economy revitalize itself from the Covid-19 pandemic situation. Atma Nirbhar Bharat (Self-reliant India) is the vision of Prime Minister Shri Narendra Modi of creating India a self-contained power. The first time we heard of 'Atma Nirbhar Bharat Abhiyan' or 'Self-Reliant India ' came in the course of the declaration of the COVID-19 pandemic related economic package on May 12, 2020. The Minister of Finance, Nirmala Sitharaman, said 'Self-reliant Indian doesn't mean to separate India from the rest of the world. Law Minister Ravi Shankar Prasad further said that "self-reliance" does not mean isolating the nation from other nations but making a self-sustainable nation. Foreign Direct Investment, new technology, and advancements are all welcome to self-reliant India, a more critical part of the global economy.
Shri Narendra Modi also outlined five pillars of Aatm Nirbhar Bharat: economy, infrastructure, system, vibrant demography, and demand.
The Atma Nirbhar Bharat package is the exclusive economic and all-embracing package of Rs. 20 lakh crores equivalent to 10% of India's GDP to wrestle the COVID-19 pandemic in India. The Atma Nirbhar Bharat package mainly focuses on land, labor, liquidity, and laws, which will serve diverse sections of society comprising the cottage industry, MSMEs, laborers, and migrants’ class, and industries among others too.
When we hear about Rs. 20 lakh crore, then one might assume that the government will spend this huge amount from its pocket to aid the public, but it is not so. To understand this, one has to understand that there are two types of economics: monetary policy and fiscal policy. The monetary policies are framed by a country's central bank that is RBI, in India. Monetary policies involve fluctuating the interest rates, changing the supply of money to control inflation, and this all is done by RBI, the central bank of India. And the other policy is fiscal policy, which the government made, the government alters its spending- which areas to spend more, alter the tax rates, these are the fiscal policies. So, Rs. 8 lakh crore out of 20 lakh crore rupees is a liquidity inclusion done by RBI, and this amount will come from the reserves of RBI, and fiscal policies of the government will give the remaining 12 lakh crore rupees.
Now, let's see part by part overview to seek out what the Atma Nirbhar Bharat package entails:
Some have designated the Atma Nirbhar Bharat package as a re-packaged edition of the "Make in India" movement using new tags like 'Vocal for Local.'
Now let's talk about why the Atma nirbhar Bharat package has been introduced?
During Mr.Modi's address to the nation, he explained how the world is in a hypercritical stage, and India needs to be a self-reliant nation in such a pandemic type. Prime Minister described the same with the help of a fact that when the coronavirus pandemic started, India did not fabricate a single PPE kit or N-95 masks but now manufactures more than 2 lakh PPE kits and N-95 masks daily. This package shall also provide a robust rational boost for Abhiyaan through an improved structural reform, technological involvement, and ease of setting up a business/ employment. There are many different reasons for introducing this scheme that can be explained in the following points:
To shift from Globalisation to Localisation
To accomplish self-reliance in divisions like pharmaceuticals, food, leather, furniture, clothing industry, electronics, plastics, toys, etc. shall refurbish their procurement processes to a local level that were earlier dependent generally on Chinese products. It is essential for Indian citizens to reliant on the local market and supply chains to survive the Covid-19 pandemic. To achieve this motive, the government shall offer a pronouncement preference in an arrangement for locally produced goods and services to depress the import of goods and services and provide tax sops. The end goal is to boost business and remap the mission of the 'Make in India' campaign, which was started in the year 2014.
To increase the health sector's investment and schemes
To serve the public health sector's need and investment in health care is the need of hour during the widespread pandemic. It is fundamental for the government to fund extra for health services in both urban and rural areas. Furthermore, setting up hospitals for infected patients, collaborating the lab network, and surveillance by public health labs will be essential to control pandemics.
Boost in employment through MGNREGA
The Government has opted to invest Rs. 40,000 Crore in (MGNREGS). It will help the migrant workers to find work at their nearby places.
Assistance to state governments
The Aatm nirbhar bharat package will assist the state governments as their borrowings have increased from 3 to 5% for 2020-21. It will allow the state to spend on resources costing around Rs. 5 lakh crore. However, the borrowing will be up to fields like One Nation, One Ration Card, Electricity Distribution, etc.
By starting the campaign, the government has led the way to a proper Swadeshi movement and resonates to enhance and bring reforms in the Indian market. However, to achieve the vision of Aatm Nirbhar Bharat, the government needs to decentralize its approach and make transparent decisions for rural, urban laborers, keeping the poor and needy at priority. Further making ng environmental-friendly policies rooted to make India a nation "Atma Nirbhar Bharat globally."
On our behalf, our organization Aatmnirbhar Sena will promote business culture in different societies and communities in a well-planned manner. Aatmnirbhar Sena will create a favorable business environment for budding entrepreneurs and make it easier for them to enter the entrepreneurial world. Our organization is committed to bringing lives back on track for small businesses, farmers, and migrant workers to street vendors. Aatmnirbhar Sena will be providing training and education to the country's youth to reach their entrepreneurial destination.
