Atmanirbhar Bharat Abhiyan

By : Neha Dhyani

Updated : May 17, 2022, 8:50

On 12th May 2020, Prime Minister Narendra Modi announced an economic package to help India battle the COVID-19 induced economic slowdown. The economic package is aimed to make India self-reliant or 'Atmanirbhar'.

Atmanirbhar Bharat Abhiyan refers to the measures taken by the central government to make India self-sufficient in areas like infrastructure, services, etc. The value of the economic package is INR 20 lakh crore or 10% of India's Gross Domestic Product (GDP).

Atmanirbhar Bharat Abhiyan - The Economic Package

The primary purpose of the economic package under the Atmanirbhar Bharat Abhiyan is to provide much-needed policy and financial support to Micro, Small, and Medium Enterprises (MSMEs) and the cottage industry in India.

Through the project, the government of India has announced a slew of measures to encourage and attract investment, increase the ease of conducting business and make the 'Make in India' initiative successful.

Besides MSMEs and cottage industry, the economic package will also focus on labour, land, laws, and liquidity. It will cater to labourers, industries, the middle class, and others.

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Atmanirbhar Bharat Abhiyan - The Five Pillars

In his 12th May 2020 speech, PM Narendra Modi declared the five pillars for developing a self-reliant India -

Economy - By focusing on its primary goal to make India a US$ 5 trillion economy by 2025, the government will encourage quantum jump, not incremental change.

Infrastructure - The government plans to make infrastructure its new identity. An investment to the tune of INR 100 lakh crore will be made in the infrastructure sector to help India become a US$ 5 Trillion economy by 2025.

Systems - The government will focus on creating systems in line with the demands of 21st-century technology.

Demography - A vibrant demography is the primary source of a self-reliant India.

Demand - Provide a framework to enable total usage of demand and supply chain. The government will lay full emphasis to strengthen the supply chain so that they can cater to the increasing consumer demands.

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Atmanirbhar Bharat Abhiyan Salient Features

Here are the salient features of the Atmanirbhar Bharat stimulus package announced by the government of India in May 2020 -

  • Insurance cover of Rs 50 Lakh per health worker
  • 80 crore poor people received 5 kg wheat or rice per person for 3 months from May 2020
  • Each household received 1 kg pulses for 3 months from May 2020
  • 20 crore women Jan Dhan account holders received INR 500 per month for 3 months from May 2020
  • Free gas cylinders were provided to 8 crore low-income families for 3 months
  • MNREGA wage was increased to INR 202 a day from INR 182. This benefitted 13.62 crore families.
  • Front-loaded INR 2,000 paid to farmers under PM-KISAN. This benefitted 8.7 crore farmers.
  • RBI increased the Ways and Means advance limits of States by 60% and the Overdraft duration limits
  • The last date for Income Tax and GST Returns was extended to 30th June 2020
  • Moratorium of three months on payment of instalments and interest on Working Capital Facilities of all Term Loans
  • INR 3 lakh crores Collateral free Automatic Loans for Business, including MSME
  • INR 50,000 crore equity infusion through MSME Fund of Funds
  • 25 lakh new Kisan Credit Cards approved with a loan limit of Rs. 25,000 crore
  • 63 lakh loans of Rs. 86,600 crore was sanctioned in Agriculture between 1.3.2020 to 30.04.2020
  • Rs 30,000 crore Additional Emergency Working Capital for farmers through NABARD

The primary aim of the Atmanirbhar Bharat Abhiyan is to make India a self-reliant economy and help the government achieve the massive target of making India a US$5 Trillion economy.

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FAQs on the Atmanirbhar Bharat Abhiyan

Q1) What is Atmanirbhar Bharat Abhiyan?

Atmanirbhar Bharat Abhiyan refers to the measures taken by the central government to make India self-reliant in areas like infrastructure, services, etc.

Q2) Who announced Atmanirbhar Bharat Abhiyan?

On 12th May 2020, Prime Minister Mr Narendra Modi announced Atmanirbhar Bharat Abhiyan to help India battle the COVID-19 induced economic slowdown.

Q3) What is the value of the stimulus package under Atmanirbhar Bharat Abhiyan?

The value of the economic package is INR 20 lakh crore or 10% of India's Gross Domestic Product (GDP).

Q4) What are the primary Objectives of the stimulus package under Atmanirbhar Bharat Abhiyan?

The primary purpose of the economic package under Atmanirbhar Bharat Abhiyan is to provide much-needed policy and financial support to Micro, Small, and Medium Enterprises (MSMEs) and the cottage industry in India.