Atmanirbhar Bharat Abhiyan | 20 lakh crore Economic Relief Package
GS Paper II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation
Context: Prime Minister of India, Narendra Modi has announced the launch of Atmanirbhar Bharat Abhiyan during his address to the nation on 12th May 2020.
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Key Highlights of the Atmanirbhar Bharat Abhiyan
- As part of the Atmanirbhar Bharat Abhiyan, Prime Minister announced a special economic package and gave a clarion call for Atmanirbhar Bharat.
- This special economic package, along with earlier announcements made by the government during the COVID crisis and decisions taken by RBI, is to the tune of Rs 20 lakh crore, which is equivalent to almost 10% of India’s Gross Domestic Product (USD 2.72 lakh crore(2018)).
- As mentioned in his address to the nation, the package will also focus on land, labour, liquidity and laws.
- It will cater to various sections including cottage industry, MSMEs, labourers, middle class, industries, among others.
- The package will provide a much needed boost towards achieving ‘Atmanirbhar Bharat’.
Watch this video for more details!
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What else is talked about in PM’s Address to the nation?
During his address to the nation, PM Shri Narendra Modi, talked about the major pillar of self-reliant India. He underlined the importance of strengthening all stakeholders in the supply chain to increase, as well as fulfill, the demand. These five important pillar of self-reliant India are:
- ECONOMY, which brings in quantum jump and not incremental change;
- INFRASTRUCTURE, which should become the identity of India;
- SYSTEM, based on 21st century technology driven arrangements;
- VIBRANT DEMOGRAPHY, which is our source of energy for a self-reliant India; and
- DEMAND, whereby the strength of our demand and supply chain should be utilized to full capacity.
Prime Minister remarked that self-reliance will prepare the country for tough competition in the global supply chain, and it is important that the country wins this competition.
“On the fourth stage of Lockdown, he said that its contours will be completely different from those seen yet. On the basis of recommendations received from states, new rules will be framed, and information about the same will be conveyed before 18th May.“
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