Atmanirbharta - A major initiative for economical improvement

'Atmanirbharta'- A campaign to boost the Indian economy 

On 12th of May at 8:00 pm[IST] in New Delhi Indian Prime minister Narendra Modi addressed the nation for the 4th time during this lockdown. PM Modi's speech of 33 minutes revolved around a certain keyword that was 'Atmanirbharta' which is a Hindi word, its English meaning is Self reliance. PM Modi put a great emphasis on Self reliance or Atmanirbharta. The PM also said that the idea is to achieve the goal of 'Atmanirbhar Bharat or Self-reliant India'. 

PM Modi addressed the nation on 12th of May

Meaning of Atmanirbharta :

First of all we've to know "What is Atmanirbharta?"- 'Atmanirbharta (Self-reliance)' means the attempt to satisfy our own needs with our production, in a simple way we can say that, 'To become self- dependent for our requirements. But, it's not just about producing things. It is also about buying them too. In this context the dimension of localism is very important.

Prime Minister Narendra Modi in his address has called on the nation to be self-sufficient and make the twenty-first century our own, India is facing a big crisis due to the Coronavirus infection and lockdown implemented in an attempt to stop it. This crisis is also in front of the whole world. Most of the economic activity has come to a standstill since mid-March and given the uncertainties of the future, it is difficult to say that everyday life with the economy will be able to get back on track as before. In such a situation, the country can come up with a new path for the future. Prime Minister Narendra Modi has called this an opportunity for the people who wants to run their own businesses. For this Prime Minister announced a special economic package and gave a clarion call for Atmanirbhar Bharat.

Total Package for 'Atmanirbhar Bharat' project :

PM Modi noted that this package, taken together with earlier announcements by the government during COVID crisis and decisions taken by RBI, is to the tune of Rs. 20 lakh crore(265 Billion dollar), which is equivalent to almost 10 per cent of India's GDP.

Benefits :

This package is distributed among 7 sectors including MSME(Ministry of Micro, Small & Medium Enterprises), NBFC(Non-Banking Financial Company), Micro finance, power generating, real estate, tax system and contractors. He said that the package will provide an encouragement towards achieving 'Atmanirbhar Bharat'.

Must see this post : 'Atmanirbhar Bharat' can give a lesson to China

Importance :

Self-reliance is the fundamental element of our culture and it can also become a source of a proud place in today's crisis-ridden globalized world. The central government is already trying to achieve the goal of self-reliance through initiatives like Make in India.

Talking about the positive impact of reforms like JAM(short for Jan-Dhan-Aadhaar-Mobile) trinity and others, brought about in the last six years, Prime Minister said that several bold reforms are needed to make the country self-reliant, so that the impact of crisis such as COVID-19, can be negated in future.
These reforms include supply chain reforms for agriculture, rational tax system, simple and clear laws, competent human resource and a stable economical system. These reforms will make a way to increase trade, attract investment, and further strengthen Make in India.

Time to make 'Make in India' strong

Prime Minister Modi said that, the package will also focus on land, labour, liquidity and laws. It will serve to various sections including domestic industries, MSMEs, labourers, middle class, industries, among others. 

Prime Minister remarked that, 'Atmanirbharta' will prepare our country for tough competition in the global supply chain, and it is important that India will have to win this competition. The same has been kept in mind while preparing the Atmanirbharta package. It will not only increase efficiency in various sectors but also ensure quality in the products and services.

India is a resource-rich country in terms of natural resources, labor, skills, large domestic market etc. If we start using locally manufactured goods, not only will the economy be strong, but the path of expansion of the industry will also be paved. He said, all our demands during the crisis were met 'locally'. Now, it's time to be vocal for the local products and help these local products to become global.

Time to raise the domestic market by Atmanirbharta campaign 

Due to dependence on imports for many goods, our trade deficit has steadily increased and the possibilities of producing those goods in the country itself have also become blunt. We can invest in that money going abroad and also create employment opportunities and can also speed up the process of development in the field of technology and skills. The world believes in the level of competence and excellent talent of our human resources. If India can be a big market for things made in countries like China, Japan, America etc., then India can also consume its own made products and can also give employment . By strengthening production and demand, we have the ability to take our economy forward.

Economy will get a boost from Atmanirbharta campaign

Conclusion :

There is a need to create a feeling of respect and respect for the local. This is the essence of the Prime Minister's request to be vocal for the local. Atmanirbharta (Self-reliance) can also be a cure for economic inequality that has penetrated deep into our society. It is also an effective way to bridge the regional disparity in economic and industrial development. But this does not mean that India is going beyond globalization and international system by doing this, but instead it is the way to relieve the dependence of many countries on some countries and their pressure instead. We can do well on the export front by increasing production and attracting outside investment for domestic industry. The country should imbibe the mantra of Self-reliance (Atmanirbharta).

Jai Hind🇮🇳


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