ATMANIRBHAR BHARAT : Prospects & Challenges

 

The word Self Reliance means ‘the capacity to rely on one’s own efforts and capabilities.’ Addressing the nation on Covid-19 pandemic, Prime Minister Narendra Modi emphasized the necessity of a ‘self-reliant’ India. He called it ‘Atmanirbhar Bharat Abhiyan’ or ‘Self Reliant India Mission’ with the vision of making India a bigger and important part of global economy. It is based on five pillars – Economy, Infrastructure for modern India, 21st century technology driven system, Demand and Vibrant Demography.

 

Indian government announced a special package worth Rs. 20 lakh crore aimed towards achieving this mission. Under this mission, compensation will be given to farmers, traders, etc. who have suffered loss due to lockdown. This package is expected to focus on land, labour, liquidity and law.

 

ADVANTAGES
Self-reliant mission may help revive our economy impacted by Covid-19 pandemic and create new opportunities and employment across various sectors. The economic package will strengthen India’s cottage and home industries, small and medium enterprises and other industries, middle class, labourers and farmers. The mission aims to make Indian firms more competitive in the global supply chain. It will help in reducing our dependence on imports. Increased domestic production and efficiency will in turn increase our exports. These reforms will promote business, attract investments and further strengthen Indian economy.

 

CHALLENGES
Lack of effective modernization of Indian industries is a big challenge. Country needs huge investment in building strong social infrastructure. The package for MSME’s was modest and there was no adequate focus on unorganized sector. No stimulus in the package to generate demand.

 

CONCLUSION
The Covid-19 pandemic has adversely affected the Indian economy and society. Atmanirbhar Bharat is a move towards making India more self-reliant in the post Covid-19 world. For India to be truly self-reliant, government should focus on education, health, human capability and research and development. The mission will definitely support the resurgence of Indian economy.