Prime Minister Sri Narendra Modi addressed the nation on 12th May 2020. He spoke of Atmanirbhar Bharat or self-reliant India. And he also declared a package of 20 lakh crores to be spent in 2020. So what can all be in this package or scheme, let’s speculate?
What is this Atmanirbhar Bharat or self-reliant India?
PM Sri Modi quoted “Making the 21st century India’s isn’t just our dream, it’s our responsibility. The global situation today teaches us that self-reliant India is the only road towards this dream”.
He also added that the definition of self-reliant has changed globally. From economy based globalization, the world has moved on to human-based globalization. India’s culture and traditions speak volumes about self-reliance.
5 Pillars of Self-reliant India
- 1st Pillar is Economy
One of a kind of economy which will take quantum ump rather than Incremental Jump.
- 2nd Pillar is Infrastructure
One of a kind Infrastructure which will showcase Modern India.
- 3rd Pillar is System
21st Century technology-driven Governance system
- 4th pillar is Demography
We have the 1.3 billion vibrant democratic profile to prove self-reliance. It is the source of India’s Power and potential.
- 5th Pillar is Demand
Demand and supply chain link in our economy needs to be driven to its full potential. To increase demand, each and every stakeholder of Supply chain management system need to be strengthened.
What is there in the 20 Lakh crore Package?
PM Sri Narendra Modi also announced an 20 lakh crore package to deal with the aftermath of COVID-19. This figure is approximately 10% of India’s GDP( Gross Domestic Product). This will push the Atmanirbhar Bharat plan. This fund will be utilised for
1. Land 2. Labour 3. Liquidity 4.Laws
Beneficiaries of this 20 Lakh crore Package
- Skilled, semi-skilled or unskilled labour
- Middle-class taxpayers
PM also said to give emphasis on local manufacturing, local markets and local supply chain.
We will soon update more details about the 20 lakh crore package. Keep Looking.