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What is Atmanirbhar Bharat Abhiyan? PM Modi unveils economic package worth Rs 20 lakh to revive Indian economy

PM Modi said that the economic package will play an important role in .paving the way for an Aatmanirbhar Bharat.

May 13, 2020 12:09 IST
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Prime Minister Narendra Modi announced Aatm Nirbhar Bharat Abhiyan package worth Rs 20 lakh crore to make India self-reliant during his address to the nation on May 12, 2020.

While urging people to be ‘vocal about local’, the Prime Minister said that the special economic package will aim to bring relief to all those who have worked hard day and night for the nation including the labourers and farmers and the hardworking Indian taxpayers-the middle class and the industry, which has contributed significantly to India’s growth.

The special economic pack will focus on land, labour, liquidity and laws. PM Modi said that the package will play an important role in .paving the way for an "Aatmanirbhar Bharat”.

Also read: Live Nirmala Sitharaman Press Conference: FM shares details of PM’s 20 Lakh Crore Package

What is Atmanirbhar Bharat Abhiyan?

During his address, the Prime Minister highlighted the need for India to become Atmanirbhar or self-reliant and said that this will lead to a prosperous world. He noted how India’s efforts were being praised and recognised across the world.

PM Modi reaffirmed that India has the talent, it makes the best products and has a strong supply chain to become an Atmanirbhar Bharat. He stated that India today stands at a point where it has to decide to become self-reliant while also supporting the world and other countries in overcoming the challenges that they face.

The Prime Minister announced the Rs 20 lakh crore economic relief package to help India achieve self-reliance. He said that the announcements made by the Finance Minister and the decisions of the RBI together with the current package amount to a total of Rs 20 lakh crores, which is 10 percent of India’s GDP. The full details of the economic package will be announced soon. 

How to build an Atmanirbhar Bharat?

Be Vocal for the Local: According to PM Modi, one of the key ways to build an Atmanirbhar Bharat is to buy and promote local products and brands and be 'vocal for the local'. He highlighted that global brands that exist today were also local once but when people began supporting them, they became global. 

According to PM Modi, India’s 5 Pillars of Self-Reliance include: 

1.Economy that will bring not just incremental change but a quantum jump.

2.Infrastructure that will become modern India's symbol.

3.System that will be technology-driven and not based on policy of past century.

4.Demography that is our strength, will serve as a source of energy for self-reliant India.

5.Demand and supply cycle of India will boost the economy and provide the  power to harness its full potential.

Significance

The Prime Minister stated that the Atmanirbhar Bharat Abhiyan package will help revive every sector of the Indian economy including the demand and supply chain and the manufacturing sector. The package will form the path for the revival of the Indian economy, which will, in turn, play a major role in making India self-reliant. 

Benefit

The Atmanirbhar Bharat Abhiyaneconomic package is expected to ease the difficulties of the migrant labourers and farmers who have suffered the most during the lockdown imposed due to coronavirus pandemic. It is also expected to support the middle class who pay their taxes on time and help grow the home industry including cottage industries, small scale industries and MSMEs that provide livelihood to crores of people. 

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