Atmanirbhar Bharat Abhiyan

India does not support a self-centred system when it talks about becoming self-reliant. There is a concern for the happiness, collaboration, and peace of the entire world in India’s self-reliance. Shri Narendra Modi, Prime Minister of India. Under the ‘Atma Nirbhar Bharat Abhiyaan,’ the Prime Minister has offered a Rs. 20 lakh crore economic package to help our country recover from the Coronavirus epidemic (by making us self-reliant). This section contains the pertinent Infographics, Videos, PDFs, and policy reform initiatives based on the pronouncements made by the Honourable Finance Minister for the need for launching the Atmanirbhar Bharat Abhiyan’, which will be implemented in five tranches from May 13 to May 17, 2020.

Five Pillars of Self-Reliant India

• The launching of Atmanirbhar Bharat Abhiyan is built on five fundamental pillars to help India prosper and become self-sufficient.

• Economy: considers a quantum leap rather than an incremental adjustment to turn current difficulty into an advantage.

• Infrastructure can be viewed as a symbol of modern India or as the country’s identity.

• Systems: 21st-century technology that isn’t built on outdated rules.

• Democracy: a lively democracy that provides the energy for India to become self-sufficient.

• Demand: This is where the strength of our demand and supply chains is put to good use.

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Significance

• He used the example of converting a crisis into an opportunity, saying that the manufacture of PPE kits and N-95 masks in India has increased from nothing to 2 lakh each day.

• The PM quoted from our scriptures, “Eshah Panthah,” which means “self-sufficient India,” as proof that remaking India’s self-reliance is the only way out.

• Globalisation will become more human-centric as a result of the Self-Reliant India Mission. In a globalised world, the notion of five pillars of Self-Reliant India has evolved, and it is distinct from being self-centred. The world is given a glimpse of hope by India’s underlying concept and tradition of “Vasudhaiva Kutumbakam.” This should be considered in the context of Human-Centric vs Economy-Centered Globalization.

• Self-sufficiency does not imply isolation from the rest of the world. India believes in the world’s welfare, and its progress is intertwined with that of the rest of the world. The world believes that India can significantly contribute to humanity’s growth.

• The Prime Minister also emphasised being vocal about local products and urged people to buy exclusively locally produced goods.

Five Tranches

Businesses including MSMEs

• Collateral-free loans and emergency finance to help small businesses, such as MSME, get back on their feet – $3,000,000 Cr.

• 20,000 crores in subordinate debt for troubled SME

• 50,000 crores in a Fund of Funds for MSMEs equity infusion. It would also encourage MSMEs to list on the major stock exchanges’ mainboards.

• Government contributions to qualifying establishments’ EPF accounts – 2800 Cr

• 6750 crores reduced employer and employee EPF contributions.

• NBFCs, HFCs, and MFIs – 30,000 Cr Special Liquidity Scheme

• NBFC/MFI partial loan guarantee plan – 45,000 crores

• 90,000 crore in liquidity infusion for DISCOMs through the Power Finance Corp/REC

• 50,000 crores for lowering TCS/TDS prices

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Poor, Migrants and Farmers

• 2 months of free food grains for migrant workers – 3500 crores

• MUDRA-Shishu loan interest subsidy – 1500 crores

• 5000 crore special credit facility for street merchants

• 70,000 crores for the extension of a credit-linked subsidy scheme in the housing sector for the middle-income group.

• NABARD has provided additional emergency working cash to farmers in 30,000 crores.

• Kisan Credit Cards – Additional Concessional Credit – 2,00,000 Cr

• A migrant beneficiary can buy grains from any ration outlet in the country using the One Nation One Ration card.

• A plan under PMAY and affordable rental housing complexes (ARHC) under PPP mode provide inexpensive homes for migrants and the urban poor.

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Agriculture Sector

• Agri Infrastructure Fund — 1,00,000 crores for farm gate infrastructure, including cold chain and post-harvest infrastructure

• 10,000 crores of food micro-enterprises utilising a cluster-based strategy

• PMMSY (Pradhan Mantri Matsya Sampada Yojana) – 11,000 crores for marine, inland, and aquaculture activities, and 9000 crores for infrastructure – fishing harbours, cold chains, markets, and so on.

• 15,000 crore Animal Husbandry Infrastructure Development Fund

• Herbal Cultivation Promotion – 4000 Cr

• Extending the Tomatoes, Onion, and Potatoes (TOP) programme to all fruits and vegetables – 500 Cr

• Initiatives in beekeeping – 500 Cr

New horizons of growth and government reforms:

• Funding to bridge the viability gap – 8100 Cr

• 40,000 crores in additional MGNREGA funds

Conclusion

The Atmanirbhar Bharat Abhiyan approach appears to deliver a strong supply-side push by increasing the availability of low-cost finance and helping agriculture and business. The increased funding for MNREGA will aid in the productive employment of returning migrants. For the time being, demand-side stimulation via deficit financing is not being explored. However, there is no denying that demand stimulation is desperately needed right now. Demand for industrial products and services must be developed, and people’s purchasing power must be boosted. Likewise, income support for migratory workers and the disadvantaged in cities is a pressing issue. As a result, even in declining revenues, a more aggressive fiscal stimulus may have been attempted.