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In a Major Economic Boost, PM Modi Announces Atmanirbhar Bharat Abhiyan

May 13, 2020

The Prime Minister in his televised address to the nation on Tuesday has spoken about the roadmap ahead. The economic activities can not be halted for a long time. Therefore in order to assist the concerns of the industries and stakeholders, he has announced a massive package of 20 Lakh Crore rupees. Let us understand what is Atmanirbhar Bharat Abhiyan and how it focuses on self-reliance.

Atmanirbhar Bharat Abhiyan

The Swadeshi Focus

The Atmanirbhar Bharat Abhiyan particularly focuses on strengthening the economy of India. The revival of branches of the economy will lead India in the direction of achieving self-sustainability. Also, the sectors benefitting from this are cottage industries, MSMEs, Supply chain, Manufacturing, etc. The Prime Minister has urged people to buy local products so the wheel of the economy keeps running. The mission is also designated as the second version of Make In India.

The requirement of Bold Reforms

PM Narendra Modi has hinted at bold reforms that can be a part of the Atmanirbhar Bharat Campaign. There is a need to make changes to the existing labor laws in order to attract investment. It is a pre-requisite to establish an optimum environment of laws and regulations. In addition to this, there can be major tax reforms in the corporate sectors as a part of the Atmanirbhar Bharat Abhiyan. The 20 Lakh Crore Rupees package amounts to 10% of India’s GDP.

The details of the distribution of this 20 lakh Crore package will be made available over the next few days, said PM Modi. He also highlighted that moving in the direction of self- reliance does not mean being self-centered. Prime Minister made a reference to the Kutch earthquake and how the people of the area rebuilt the region. As the experts are suggesting that the virus will be a part of our lives for a long time. PM Modi urged people to move forward and turn the crisis into an opportunity to make India truly Atmanirbhar.

 

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Yogesh is fascinated by the colossal world of Microbes around us and is pursuing a career in Microbiology. He is an avid reader and ponders upon the current affairs, the insights of which are reflected through his writing. Just like the microbes he studies, Yogesh is an adaptable cool-headed guy who strives for a better version of himself. He also believes that there is no sincere love than the love of food.