Coronavirus has hit the Indian economy hugely. The coronavirus pandemic outbreak has left the entire world in a state of complete lockdown, and everyone is advised to stay indoors and maintain social distancing as much as possible.
Travelling and transportation have been restricted, and all public places such as movie theatres, schools, colleges, swimming pools, recreation parks all have been shut down. Indian economy is going through a financial crisis
and the Prime Minister of India, Narendra Modi, has come up with the concept of ‘Aatma Nirbhar Bharat Abhiyaan’ to help India recover from the on-going crisis.
It has launched relief funds for supporting various sectors of the economy. He has focused on making India ‘self-reliant’ and is continuously encouraging the concept of ‘vocal for local’ where he is
stressing all Indians to buy products made in India to support the Indian companies.
Buying Indian products will make money flowing within the Indian economy rather than going to foreign brands that belong to other countries.
The Prime Minister has announced a relief package worth twenty lakh crore rupees which is approximately two hundred sixty-six billion dollars.
The massive amount of money has been set aside to cater to all the sectors and industries in India. The stimulus package announced by the Indian Prime Minister accounts for almost ten percent of the Gross Domestic Product of India.
It is so far the highest relief stimulus package that has been announced by any developing nation. The ‘Aatma Nirbhar Bharat Abhiyan’ is a big step towards the revival of the Indian economy and to support all the medium and small-sized industries, the agricultural sector, farmers, and many other industries as well.
The ‘Aatma Nirbhar Bharat Abhiyan’ package announced by the Prime Minister of India, Mr. Narendra Modi focuses on a lot of things. It primarily highlights the below-mentioned points.
The decisions made by the Reserve Bank of India and the announcements which the government made regarding the coronavirus relief fund and the necessary steps which
need to be taken.
The financial package announced by the government makes up almost ten percent of Indian Gross Domestic Product (GDP).
The package broadly aims at providing support to the farmers belonging to the
agricultural and farming sector in India.
The packages focus on the land, liquidity, labor, and laws which is to be followed in
The package encourages everyone to shop Indian products from Indian brands and to go ‘vocal for local’. He wants everyone to adopt products made in India and ban the
usage of foreign-made products as much as possible.
The ‘Aatma Nirbhar Bharat Abhiyan’ is mainly designed and drafted around the five
pillars, which include infrastructure, economy, vibrant demography, technology-
driven system and demand.
The ‘Aatma Nirbhar Bharat Abhiyan’ also consists of a package amounting to around
1.7 lakh crore rupees of food grain, free of cost to the poor and migrant laborers. It
also includes the cash amount allotted to poor women and older people.