Atmanirbhar Bharat Abhiyan 2020
The word has been affected due to the COVID-19, Top developed countries GDP and economy have plunged and entered into the rescission. India also witnessed this in terms of economy and health of people. To revive the India economy the PM Narendra Modi announced a 20 lakh crore rupees economic stimulus package named ‘Atmanirbhar Bharat Abhiyan‘, with the slogan ‘Vocal for Local‘ In May 2020
It was announced with the objective to make India self-reliant and also to give a stimulus for the economy that was hit badly by COVID-19. This package is estimated to be 10% of GDP. While stating this package, the Prime Minister said that this package concentrates on land, labour, liquidity & laws. He also said that this will help labourers, farmers, honest taxpayers, MSMEs & cottage industry.
Key Facts of Atmanirbhar Bharat Abhiyan:
- Atmanirbhar Bharat Abhiyan package intended to make local products global and which helps Indian companies in competing on the global level.
- This package provided collateral-free loans to Medium, Small, Micro Enterprises (MSME) up to a turnover of 100 crore rupees. This will help MSMEs to pay wages, buy raw materials and to run the businesses. 45 lakh companies will be profited by these loans. Around 11 crore people are employed through MSMEs in India.
- Structural reforms and marketing reforms in agriculture are assured.
- small farmers through Kisan credit cards will get around 30,000 crore rupees credit.
- For the welfare of fishermen package allotted 20,000 crore rupees credit.
- For vaccination of livestock, package allotted 13,000 crore rupees credit.
- Agriculture co-operative societies & Farmer producer organisations got allotted 1 lakh crore rupees, and funding to post-harvest management is also discussed– agriculture and allied sectors will profit from this.
- First time Space exploration is opened for the private sector.
- For Non-banking Finance Companies (NBFCs) Rs. 30,000 crores special liquidity facility is announced
- Loans worth of Rs. 90,000 crores announced for power discoms.
- ‘One Nation – One Card‘ was launched, which allows people to take ration from anywhere in India.
- A 5000 crore rupees credit facility is provided for street vendors.
- MGNREGA got additional 40,000 crore rupees for the employment to the returned migrants.
- Health institutions and test labs have established for Covid-19
- PM e-Vidya programme for multi-mode access to digital online education provides a common learning platform for all over India
Due to COVID-19 pandemic, trade of goods and services got disrupted and as a result of this, many countries started preparing for the future catastrophe by implementing local manufacturing and supply chains thereby making themselves self-sufficient. So, Atmanirbhar Bharat Abhiyan is very much needed for India to transform itself into a self-reliant country. But this may not be enough to revive the economy and to rebuild livelihoods that are affected by the pandemic.