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India has been on its quest to become more self-reliant ever since the pre-independence era, with activities such as the Swadeshi movement. However, the COVID-19 issue and its subsequent lockdown were severe to the Indian economy and businesses. The Indian PM, Narendra Modi, thus, launched the Aatmanirbhar Bharat scheme following this crisis, trying to make India more self-reliant to recover from it.
Are you curious to learn more about the Aatmanirbhar Bharat Abhiyan? This article will give you a clear idea about the benefits and features of this mission!
The current Indian PM, Narendra Modi has always emphasised developing a "self-reliant India", precisely economic vision and achievements. A sudden pandemic occurred around the world towards the beginning of 2020, which led to most countries starting a complete lockdown. It naturally brought a sharp sales drop in most industries, and businesses faced significant losses.
The PM introduced this Aatmanirbhar Bharat scheme in this context. It came as an economic package of ₹ 20 lakh crores to support India and its economy during this crisis. This mission mainly emphasised five components with this package, including economy, infrastructure, systems, vibrant demography, and demand. Moreover, the Ministry of Tribal Affairs (MoTA) also actively pursues AatmanirbharBharat Abhiyan through self-reliant projects and policies.
Atmanirbhar Bharat Abhiyan, the self-reliant India mission, is an economic stimulus package by the Government of India to support different sectors after the COVID-19 pandemic. It is founded on five pillars, which include:
This pillar concentrates on boosting the economy through support for different sectors, improvement in infrastructure and ease of doing business. These encompass reforms meant to make India more competitive and resilient.
This pillar focuses on developing infrastructure across the country that will improve connectivity, logistics and industrial growth. Infrastructure investments aim to be drivers of economic activity leading to job creation.
It aims to improve overall governance systems, including taxation reforms, labour laws, and regulatory frameworks, to make them more efficient and friendlier to business.
We can take advantage of demographic dividends by investing in skills, education, and employment opportunities so that our large population becomes a powerhouse.
Enhancing people's purchasing power and igniting domestic consumption by creating robust demand.
These pillars establish a strong foundation for inclusive growth, self-sufficiency, and sustainable development in India.
The AatmaNirbharBharat Abhiyan can effectively recover from an economic disaster after COVID-19 and make Indian citizens more self-reliant. If you are still wondering about the expected outcomes of this scheme, check out its objectives as listed below.
While this AatmaNirbharBharat scheme focuses on making India self-reliant, there are several other activities and features associated with it. Becoming self-sufficient is usually a long and complex process. Learning more about all the subordinate activities and features of the AatmaNirbharBharat Abhiyan will help you understand it further.
The activities of the AatmaNirbharBharat scheme aim to benefit businesses, including cottage industry, MSMEs, labourers, middle class, and others. In this context, the Pradhan Mantri Garib Kalyan Package of ₹ 1.70 lakh crores can be considered a relief package for the poor to help battle against COVID-19. Moreover, there have been initiatives to extend the last date for Income Tax Returns, file GST returns, custom clearance, all day long, etc. Businesses, including MSMEs, can avail of business loans up to ₹ 25 crores outstanding and ₹ 100 crores turnover.
About three crore farmers have received agricultural loans of ₹ 4.22 lakh crores. The healthcare workers will receive an insurance cover of ₹ 50 lakhs, and about 80 crore poor people will receive 5 kg wheat or rice per head for the next three months. Other activities include Jan Dhan accounts of 20 crore women, free gas cylinders to 8 crore low-income families, Employee Provident Fund EPF to get a non-refundable advance of 75%, etc.
Moreover, the State Governments plan to utilise the State Disaster Response Fund (SDRF) to develop shelters for migrants and provide their daily essentials. The scheme details of AtmaNirbharBharat Abhiyan also include a disbursal of Revolving Fund (RF) to Self Help Groups. Minimum wages were made applicable to 30% of the rural labourers, and Affordable Rental Housing Complexes (ARHC) were built for migrant labourers and urban low-income families.
To learn more details about AtmaNirbharBharat Abhiyan, you need to consider its emphasis on farming activities in India. Additional Emergency Working Capital for farmers through NABARD provides aid of ₹ 30,000 crores to benefit over three crore farmers. PM KISAN fund has exceeded ₹ 18,700 crores in this period, with an investment of ₹ 1 lakh crores for Agri Infrastructure Fund for farm-gate infrastructure. The Government has also developed a ₹ 10,000 crores scheme to formalise Micro Food Enterprises (MFE). Pradhan Mantri Matsya Sampada Yojana (PMMSY) supports fishermen with ₹ 20,000 crores.
With this new AatmaNirbharBharat scheme, the Indian Government is also trying to upgrade the industrial infrastructure of India. The Industrial Land/ Land Bank is made available for inviting new investment. Moreover, the coal sector has got competition through Revenue sharing mechanism instead of a regime of fixed Rupee/tonne. The Government has also invested about ₹ 50,000 crores in Diversified Opportunities in the Coal Sector. Private investments in the mineral sector will help in a seamless composite exploration-cum-mining-cum-production regime.
The Government aims at introducing a large number of reforms under the AatmaNirbhar scheme. Corporate Law measures have resulted in 44% Recovery in 221 resolved business cases. SWAYAM PRABHA DTH channels have been developed to support people who do not have access to the internet. The PM eVIDYA, on the other hand, is a program for multi-mode access to digital/online education.
Benefits and assistance to startups include tax breaks, a business-facilitating environment and access to venture capital funding & angel networks. Fund of Funds for Startups (FFS) is a government effort to assist startups who are in need of funds with a focus on sectors such as biotechnology and manufacturing agriculture, among others.
National Education Policy (NEP) 2020 is an all-encompassing road map for the future of the Indian education system with emphasis on curriculum reform, vocational training priority and research innovation promotion. Skill India Mission is a training and skilling initiative aimed at providing essential skills required by the workforce to match emerging job markets.
Now that you know all about the scheme of AatmaNirbharBharat, you can identify its specific goal of reviving self-dependency in the Indian business context. As the COVID-19 pandemic caused the immediate downfall of business and sales, the Government aims at improving the situation with new sets of regulations. Check out the following benefits of AatmaNirbharBharat mission to throw further light on the issue.
As you can see, the development of the AatmaNirbharBharat scheme has been a reasonable attempt to recover from the losses of COVID-19. It is a government initiative to help businesses, MSMEs, industries, backward classes and farmer families. If you are a beneficiary, you will be able to utilise the range of facilities from the Central Government of India.
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