Essay on Aatm Nirbhar Bharat

Essay on Aatm Nirbhar Bharat in English

Essay on Aatm Nirbhar Bharat

The year 2020 has been a disastrous one not just for India but for every country in the world due to the rapid spread of coronavirus. which eventually led to a pandemic. 

The disease impacted the country’s economy on a large scale, thus further damaging growth and progress. 

In these times, when the economy seemed to fall with each passing day, Prime Minister of India, Narendra Modi introduced a concept called Atma Nirbhar Bharat.

On 12th May 2020, prime Minister Narendra Modi announced a package of 20 Lakhs crore to revive the economy and address the issues affecting various sections of people. 

The package is about 10% India total GDP. Atma nirbhar Bharat is the mission and vision of our P.M. Narendra Modi to make India Self- reliant. The real meaning of Atma Nirbhar is Self-Reliant India. 

Atmanirbhar means to promote and give preference to indigenous products match their imported counter parts in cost and quality. 

Self-reliant doesn’t mean that we are court off from the Global world, but it actually means that we are able to produce the products and eventually play a larger role in the global economy.

The five pillars of Aatm Nirbhar Bharat Focus on:

1. Economy

2.Infrastucture

3.System

4. Vibrant Demography and

5. Demand 

The five phases of Aatm Nirbhar Bharat are:

Phase-I: Business including MSMEs

Phase-II: poor, including migrants and farmers

Phase- III: Agriculture

Phase- IV: New Horizons of growth

Phase-V: Government Reforms and enables

The Atmanirbhar Bharat Abhiyan is an important mission for the economic revival and progress of the Indian economy under lockdown.

Indian Economy have huge potential to achieve self-reliance but it requires proper implementation of laws ade by government and proper allocation of funds allotted by the government, not only in urban, but rural section also have great capacity to develop if proper policies are made and implemented.

Government should give all the facilities to develop those sectors which have potential to take innovative steps. 

This is not only government’s responsibility but also consumer responsibility to consume domestically produced goods because demand is the main deter mainant to develop any section.

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Short ESSAY ON Aatm Nirbhar Bharat

Aatm Nirbhar Bharat (Self-reliant India or Self-sufficient India) is the policy of Prime Minister Narendra Modi for making India “A bigger and more important part of the global economy” 

Atmanirbhar does not mean isolating away from the world. It is about being self-sustaining and self-generating. 

Furthermore, Prime Minister laid down the five pillars that serve as the foundation for self-reliant India. They are economy, infrastructure, technology-driven systems, vibrant democracy, and demand. 

A total of 3 Aatm Nirbhar Bharat packages worth Rupees 29.87 lakh crore were announced by the government. 

As a part of the Aatm Nirbhar Bharat package, numerous government decisions have taken place such as changing the definition of MSMEs (Micro, Small and Medium Enterprises) boosting scope for private participation in numerous sectors, increasing FDI in the defense sector, and the vision has found support in many sectors such as the solar manufacturing sector. 

Slogans initiated under Aatm Nirbhar Bharat include ‘vocal for local’, ‘local for global’, and ‘make for the world’ 

ESSAY ON ATMANIRBHAR BHARAT 

Aatm Nirbhar Bharat – INTRODUCTION 

The word Self Reliance means ‘ the capacity to rely on one’s own efforts and capabilities.’ Addressing the nation on the 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 a vision of making India ‘a bigger and important part of the global economy. 

It is based on five pillars-Economy, Infrastructure for modern India, 21st-century technology-driven system, Demand, and Vibrant Demography. The Indian government announced a special package worth Rs. 20 lakh crore aimed towards achieving this mission. 

Under this mission, compensation will be given to all workers, farmers, traders, etc. who have suffered a loss due to lockdown. This package is expected to focus on land, labor, liquidity, and laws. 

Aatm Nirbhar Bharat – ADVANTAGES 

The self-reliant mission may help revive our economy impacted by the 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, laborers, 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 the Indian economy. 

Aatm Nirbhar Bharat – CHALLENGES 

The lack of effective modernization of Indian industries is a big challenge. The country needs huge investment in building strong social infrastructure. 

The package for MSMEs was modest and there was no adequate focus on the unorganized sector.No stimulus in the package to generate demand.

Aatm Nirbhar Bharat – 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, the government should focus more on education, health, human capability, and research and development. The mission will definitely support the resurgence of the Indian economy. 

ESSAY ON ATMANIRBHAR BHARAT: 

Facts about Aatm Nirbhar Bharat

• Introduction 

• Body 

• Five pillars of Atmanirbhar Bharat 

• Reforms for MSME 

• Short term and long-term measures for supporting the poor, including migrants, farmers, etc. 

• Reforms for Agriculture, Fisheries, and Food Processing Sectors 

• Employment, support to businesses, Ease of Doing Business and State Governments 

• Education sector 

• Conclusion 

Introduction  

• Atmanirbhar Bharat (transl. self-reliant India) is the vision of the Prime Minister of India Narendra Modi of making India a self-reliant nation. 

• The first mention of this came in the form of the ‘Atmanirbhar Bharat Abhiyan’ or ‘Self-Reliant India Mission’ during the announcement of the coronavirus pandemic-related economic package on 12 May 2020. 

• This self-reliant policy does not aim to be protectionist in nature and as the Finance Minister clarified, “self-reliant India does not mean cutting off from rest of the world”. .11 

• As part of the Atmanirbhar Bharat package, 

• -numerous government decisions have taken place such as changing the definition of MSMEs, 

• -boosting scope for private participation in numerous sectors, 

• -increasing FDI in the defense sector; 

• -and the vision has found support in many sectors such as the solar manufacturer’s sector. 

• The growth of India’s personal protective equipment (PPE) sector from zero before March, to 1,50,000 pieces a day by the beginning of May, is considered as a fine example of a self-reliant India. 

• The PPE industry in India has become an X7,000 crore (US$980 million) in two months, the second largest after China. 

Aatm Nirbhar Bharat – Body:

• Five pillars of Aatm Nirbhar Bharat 

• Reforms for MSME 

• Short term and long-term measures for supporting the poor, including migrants, farmers, etc. 

• Reforms for Agriculture, Fisheries, and Food Processing Sectors 

• Employment, support to businesses, Ease of Doing Business, and State Governments.

•  Education sector

Five Pillars of Atmanirbhar Bharat 

• Economy – an economy that brings Quantum Jump rather than Incremental change. 

• Infrastructure – an infrastructure that became the identity of modern India.

 • System – A system that is driven by technology that can fulfill the dreams of the 21st century; a system not based on the policy of the past century. 

• Demography – Our Vibrant Demography is our strength in the world’s largest democracy, our source of energy for self-reliant India. 

• Demand – The cycle of demand and supply chain in our economy, is the strength that needs to be harnessed to its full potential. 

Short term and long-term measures for supporting the poor, including migrants, farmers, etc  

• Free food grains supply to migrants for 2 months 

• Technology system to be used enabling Migrants to access PDS (Ration) from any Fair Price Shops in India by March,2021-One Nation one Ration Card 

• Scheme for Affordable Rental Housing Complexes for Migrant Workers and Urban Poor to be launched 

• 2% Interest Subvention for 12 months for Shishu MUDRA loanees- Relief of Rs. 1,500 crore. 

• Rs 5,000 crore Credit facility for Street Vendors 

• Rs 70,000 crore boost to the housing sector and middle-income group through the extension of Credit Linked Subsidy Scheme for MIG under PMAY (Urban) 

• Rs 30,000 crore Additional Emergency Working Capital for farmers through NABARD 

• Rs 2 lakh crore credit boost to 2.5 crore farmers under Kisan Credit Card Scheme 

Reforms for MSME 

• Given the importance of MSMEs for the Indian economy, the Rs 3 lakh crore collateral-free loan facility for MSMEs under the package will help this finance-starved sector and thereby provide a kickstart to the dismal state of the economy.

 • Also, as the MSME sector is the second-largest employment generating sector in India, this step will help to sustain the labor-intensive industries and thereby help in leveraging India’s comparative advantage. 

• Additionally, limiting imports of weapons and increasing the limit of foreign direct investment in defense from 49% to 74% will give a much-needed boost to the production in the Ordnance Factory. 

• INR 50,000 Crores liquidity to be given through reduction in TDS/TCS deductions. 

• The government will facilitate the provision of INR 20,000 crores as subordinate debt Ifor functioning MSMEs which are NPA or are stressed.

Reforms for Agriculture, Fisheries and Food  Processing Sectors

• Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers. 

• Rs 10,000 crore scheme for Formalisation of Micro Food Enterprises (MFE) 

• Rs 20,000 crore for fisherman through Pradhan Mantri Matsya Sampada Yojana (PMMSY)

 • National Animal Disease Control Programme 

• Animal Husbandry Infrastructure Development Fund – Rs. 15,000 crore 

• Promotion of Herbal Cultivation: Outlay of Rs. 4,000 crore 

• Beekeeping initiatives – Rs 500 crore • Adequate choices to the farmer to sell their produce at a remunerative price; 

• barrier-free Inter-State Trade;

 • a framework for e-trading of agriculture produce. 

• Agriculture Produce Pricing and Quality Assurance 

Employment, support to businesses, Ease of Doing Business and State Governments 

• Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost 

• Public Expenditure on Health will be increased by investing in grass-root health institutions and ramping up Health and Wellness Centres in rural and urban areas. 

• Key reforms for ease of doing Business for corporates. 

• Centre has decided to increase borrowing limits of States from 3% to 5% for 2020-21 only. This will give States extra resources of Rs. 4.28 lakh crore. 

Education Sector 

• A comprehensive initiative called PM e-VIDYA will be launched which unifies all efforts related to digital/online/on-air education. 

• This will enable multi-mode access to education, and includes: DIKSHA (one nation-one digital platform) which will now become the nation’s digital infrastructure for providing quality e-content in school education for all the states/UTs; 

• TV (one class-one channel) where one dedicated channel per grade for each of the classes 1 to 12 will provide access to quality educational material: 

• SWAYAM online courses in MOOCS format for school and higher education; 

• IITPAL for IITJEE/NEET preparation; 

• Air through Community radio and CBSE Shiksha Vani podcast;  and study material for the differently-abled developed on Digitally Accessible 

• Information System (DAISY) and in sign language on NIOS website/ YouTube. This will benefit nearly 25 crore school-going children across the country. 

Aatm Nirbhar Bharat – Conclusion 

Atmanirbhar Bharat has been called by some as a re-packaged version of the Make in India movement using new taglines such as ‘Vocal for Local’. It would benefit laborers, farmers, honest taxpayers, MSMEs, and the cottage industry. 

India’s self-reliance will be based on five pillars economy, infrastructure, technology-driven system, vibrant demography, and demand. When India speaks of self-reliance, it does not advocate for a self-centered system. In India’s self-reliance, there is a concern for the whole world’s happiness cooperation, and peace. 

ESSAY ON ATMANIRBHAR BHARAT

Introduction 

The vision of the Prime Minister of India Narendra Modi of making India a self-reliant nation. 

The first mention of this came in the form of the ‘Atma Nirbhar Bharat Abhiyan or ‘Self-Reliant India Mission’ during the announcement of the coronavirus pandemic-related economic package on 12 May 2020. 

As part of the Atma Nirbhar Bharat package, numerous government decisions have taken place such as changing the definition of MSMEs. 

Boosting scope for private participation in numerous sectors, increasing FDI in the Defence sector, and the vision has found support in many sectors such as the solar manufacturer’s sector. 

The special economic package would be the main component of ‘Atma-Nirbhar Bharat (self-reliant India)’ Modi said in his fifth address to the nation. “Corona will be with us for a long time but our lives cannot revolve around the corona. 

The Prime Minister said emphasizing migrant workers, several of whom lost their lives while trying to reach their native places during the lockdown. Some even staged protests demanding transport facilities to their homes. 

RBI announced a Rs 3.4 lakh crore monetary stimulus. Modi’s Rs 20 lakh crore package will include all of that. 

The Prime Minister’s address came a day after he held a marathon six-hour meeting with chief ministers, with almost all of them asking for a large financial package. 

He said self-reliant India will stand on five pillars – Economy, infrastructure, tech-driven system, vibrant demography, and demand. 

Prime Minister Modi, in his fifth address to the nation since the great lockdown, announced the ‘Atma Nirbhar Bharat Abhiyan’ package of Rs. 20 lakh crore to revive the Indian economy, to help farmers, migrant workers, etc., and to revive the industrial sector. This package is 10% of India’s total GDP. 

The details about the package were announced by Finance Minister Nirmala Sitharaman in 5 tranches. These tranches were announced by the Finance Minister via press conferences from May 13, 2020, to May 17, 2020. 

The package included Rs 8 lakh crore in liquidity measures announced by the RBI. The government will also provide a 100% guarantee to Rs 3 lakh crore in small business loans. 

MSMEs are provided with 6 relief measures under Atma Nirbhar Bharat Abhiyan Package– Rs. 3 lakh crore Collateral-free loan to be provided (45 MSMEs will be benefitted), Government will infuse Rs. 20,000 Crores in the stressed MSMEs (2 lakh MSMEs will be benefitted), 

The government will provide a fund of Rs. 50,000 Crores to the MSMEs having potential growth, the new definition of MSMEs is given, Global tender is not allowed for government procurement up to Rs. 200 crore and local trade fairs are not possible. 

Atma Nirbhar Bharat has been called by some as a re-packaged version of the Make in India movement using new taglines such as Vocal for Local’. 

Other opposition members spoke about how India had enacted policies and built companies since its creation to make India self-reliant – SAIL for steel production, IITs for domestic engineers, AIIMS for medical science, DRDO for Defence research, HAL for aviation, ISRO for space, CCL NTPC and GAIL in the area of energy; criticizing the advertising tactics. 

Government Reforms 

Policy Highlights 

Increase in borrowing limits: The borrowing limits of state governments will be increased from 3% to 5% of Gross State Domestic Product (GSDP) for the year 2020-21. 

This is estimated to give states extra resources of Rs 4.28 lakh crore. There will be an unconditional increase of up to 3.5% of GSDP followed by a 0.25% increase linked to reforms on – universalization of One Nation One Ration card’, 

Ease of Doing Business, power distribution, and Urban Local Body revenues. Further, there will be an increase of 0.5% if three out of four reforms are achieved. 

Privatization of Public Sector Enterprise (PSEs): A new PSE policy has been announced with plans to privatize PSEs, except the ones functioning in certain strategic sectors which will be notified by the government. 

In strategic sectors, at least one PSE will remain, but the private sector will also be allowed. To minimize wasteful administrative costs, the number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatized/ merged/ brought under holding companies. 

Measures for Businesses (Including MSMEs) 

Financial Highlights 

Collateral free loans for businesses: All businesses (including MSMEs) will be provided with collateral-free automatic loans of up to three lakh crore rupees.

MSMEs can borrow up to 20% of their entire outstanding credit as of February 29, 2020, from banks and Non-Banking Financial Companies (NBFCs). 

Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover will be eligible for such loans and can avail of the scheme till October 31, 2020. 

Interest on the loan will be capped and a 100% credit guarantee on principal and interest will be given to banks and NBFCs. 

Corpus for MSMEs: A fund of funds with a corpus of Rs 10,000 crore will be set up for MSMEs. This will provide equity funding for MSMEs with growth potential and viability. Rs 50,000 crore is expected to be leveraged through this fund structure. 

Subordinate debt for MSMEs: This scheme aims to support to stress MSMEs that have Non-Performing Assets (NPAs). Under the scheme, promoters of MSMEs will be given debt from banks, which will be infused into the MSMEs as equity. 

The government will facilitate Rs 20,000 crore of subordinated debt to MSMEs. For this purpose, it will provide Rs 4,000 

crore to the Credit Lluaranteet7unci Trust for micro and bmaii briterpnses, which will provide partial credit guarantee support to banks providing credit under the scheme. 

Atma Nirbhar Bharat has been called by some as a re-packaged version of the Make in India movement using new taglines such as Vocal for Local’. 

Other opposition members spoke about how India had enacted policies and built companies since its creation to make India self-reliant – SAIL for steel production, IITs for domestic engineers, AIIMS for medical science, DRDO for Defence research, HAL for aviation, ISRO for space, CCL NTPC and GAIL in the area of energy; criticizing the advertising tactics. 

Government Reforms 

Policy Highlights 

Increase in borrowing limits: The borrowing limits of state governments will be increased from 3% to 5% of Gross State Domestic Product (GSDP) for the year 2020-21. This is estimated to give states extra resources of Rs 4.28 lakh crore.

There will be an unconditional increase of up to 3.5% of GSDP followed by a 0.25% increase linked to reforms on – universalization of One Nation One Ration card’, Ease of Doing Business, power distribution, and Urban Local Body revenues. Further, there will be an increase of 0.5% if three out of four reforms are achieved. 

Privatization of Public Sector Enterprise (PSEs): A new PSE policy has been announced with plans to privatize PSEs, except the ones functioning in certain strategic sectors which will be notified by the government. 

In strategic sectors, at least one PSE will remain, but the private sector will also be allowed. To minimize wasteful administrative costs, the number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatized/ merged/ brought under holding companies. 

Measures for Businesses (Including MSMEs) 

Financial Highlights 

Collateral free loans for businesses: All businesses (including MSMEs) will be provided with collateral-free automatic loans of up to three lakh crore rupees. MSMEs can borrow up to 20% of their entire outstanding credit as of February 29, 2020, from banks and Non-Banking Financial Companies (NBFCs). 

Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover will be eligible for such loans and can avail of the scheme till October 31, 2020. Interest on the loan will be capped and 100% credit.

Guarantee on principal and interest will be given to banks and NBFCs

Corpus for MSMEs: A fund of funds with a corpus of Rs 10,000 crore will be set up for MSMEs. This will provide equity funding for MSMEs with growth potential and viability. Rs 50,000 crore is expected to be leveraged through this fund structure. 

Subordinate debt for MSMEs: This scheme aims to support to stress MSMEs that have Non-Performing Assets (NPAs). Under the scheme, promoters of MSMEs will be given debt from banks, which will be infused into the MSMEs as equity. 

The government will facilitate Rs 20,000 crore of subordinated debt to MSMEs. For this purpose, it will provide Rs 4,000 

crore to the Credit Lluaranteet7unci Trust for micro anu bmaii briterpnses, which will provide partial credit guarantee support to banks providing credit under the scheme. 

Schemes for NBFCs: A Special Liquidity Scheme was announced under which Rs 30,000 crore of investment will be made by the government in both primary and secondary market transactions in investment-grade debt paper of Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs)/Micro Finance Institutions (MFIs). 

The central government will provide a 100% guarantee for these securities. The existing Partial Credit Guarantee Scheme (PCGS) will be extended to partially safeguard NBFCs against borrowings of such entities (such as primary issuance of bonds or commercial papers (liability side of balance sheets)). 

The first 20% of the loss will be borne by the central government. The PCGS scheme will facilitate liquidity worth Rs 45,000 Crores for NBFCs. 

Employee Provident Fund (EPF): Under the PM Garib Kalyan Yojana, the government paid 12% of employer and 12% of employee contribution into the EPF accounts of eligible establishments for the months of March, April, and May. 

This will be continued for three more months (June, July, and August). This is estimated to provide liquidity relief of Rs 2,500 crore to businesses and workers. 

Statutory PF contribution: Statutory PF contribution of both the employer and employee will be reduced from 12% to 10% each for all establishments covered by EPFO for the next three months. 

This scheme will apply to workers who are not eligible for the 24% EPF support under PM Garib Kalyan Package and its extension. However, Central Public Sector Enterprises 

(CPSEs) and State Public Sector Units (PSUs) will continue to contribute 12% as an employer contribution. 

Street vendors: A special scheme will be launched within a month to facilitate easy access to credit for street vendors. Under this scheme, bank credit will be provided to each vendor for initial working capital of up to Rs 10,000. This is estimated to generate liquidity of Rs 5,000 crore. 

Social Sector 

Policy Highlights 

Public health: The investment in public health will be increased along with investment in grass-root health institutions of urban and rural areas. 

The lab networks are being strengthened in districts and block levels for efficient management of the pandemic. 

The National Digital Health Blueprint will be implemented, which aims at creating an ecosystem to support universal health coverage in an efficient, inclusive, safe, and timely manner using digital technology. 

Allocation for MGNREGS: To help boost the rural economy, an additional Ks 40,000 crore will be allocated under MGNREGS. 

This increases the Union Budget allocation for MGNREGS from Rs 61,500 crore to Rs 1, 01, 500 crores (65% increase) for 2020-21. 

Viability Gap Funding: Viability Gap Funding (VGF) for social infrastructure projects will be increased by up to 30% of the total project cost. 

The total expense for developing the social infrastructure is estimated to be Rs 8,100 crore. 

Technology-driven education: PM e Vidya will be launched for multi-mode access to digital/online education. This program will include facilities to support school education in states/UTs under the DIKSHA scheme (one nation, one digital platform). 

National Foundational Literacy and Numeracy Mission will be launched by December 2020 to ensure that every child attains learning level and outcomes in grade 5 by 2025. 

Key Measures Taken by Reserve Bank of India (RBI) 

The overall financial package that has been announced also includes the liquidity generated by measures announced by RBI. Some of these measures include: 

> Cash Reserve Ratio (CRR) was reduced which resulted in liquidity support of Rs 1, 37, 000 crores. 

‘ Banks’ limits for borrowing under the marginal standing facility (MSF) were increased. This allowed banks to avail additional Rs 1, 37,000 crores of liquidity at a reduced MSF rate. 

➢ Total Rs 1,50,050 crore of Targeted Long Term Repo Operations (TLTRO) has been planned for investment in investment-grade bonds, commercial paper, non-convertible debentures including those of NBFCs and MFIs. 

Atma Nirbhar Bharat Abhiyan: Challenges 

Impact of this Stimulus Package 

Primary Sector: The measures (reforms to amend ECA, APMC, Contract framing, etc.) announced for the agricultural and allied sectors are particularly transformative. 

These reforms are steps towards the One Nation One Market objective and help India become the food factory of the world. These would finally help in achieving the goal of a self-sustainable rural.

Economy

Also, the MGNREGA infusion of Rs 40,000 crore may help in alleviating the distress of migrants when they return to their villages. 

Secondary Sector: Given the importance of MSMEs for the Indian economy. the Rs 3 lakh crore collateral-free loan facility for MSMEs under the package will help this finance-starved sector and thereby provide a kick start to the dismal state of the economy. 

Also, as the MSME sector is the second-largest employment generating sector in India, this step will help to sustain the labor-intensive industries and thereby help in leveraging India’s comparative advantage. 

Additionally, limiting imports of weapons and increasing the limit of foreign direct investment in Defence from 49% to 74% will give a much-needed boost to the production in the Ordnance Factory Board, while reducing India’s huge Defence import bill. 

Tertiary Sector: The government has adopted a balanced approach in addressing concerns across sectors. 

For example, The newly launched PM e-Vidya program for multi-mode access to digital online education provides a uniform learning platform for the whole nation, which shall enable schools and universities to stream courses online without further loss of teaching hours. 

Public expenditure on health will be increased by investing in grass-root health institutions and ramping up health and wellness centers in rural and urban areas. 

Finance Minister’s Top Announcements Regarding Economic Package for Aatmanirbhar Bharat 

Prime Minister Narendra Modi’s strategy for the Aatmanirbhar Bharat was presented by the Finance Minister on Tuesday. Finance Minister made major announcements regarding, MSME, NBFC, TDS, TCS, and much more. ETBFSI has crafted Finance Minister’s top 15 announcements. 

Collateral free automatic loans will now be available for MSMEs. This facility is of a total amount of Rs 3 lakh Crores. Those MSMEs whose turnover is 100 crore and have 25 crores outstanding loan exposure are eligible for this facility. 

The tenor of this loan will be 4 years and a moratorium of 12 months will be provided to the MSMEs availing of the offer. 

100% credit guarantee on principal and interest will be provided by the government. Available till 31st October and will benefit 45 lakh units. No extra cost or fresh collateral will be required. 

Subordinate debt worth Rs 20,000 crore introduced for stressed MSMEs. Those companies which are stressed or even an NPA are eligible for this facility. 2 lakh MSMEs are likely to benefit from this. 

A Fund of funds is being created which will lead to an infusion of 50,000 crores as equity into MSMEs. Those who have potential and are viable companies will benefit from this. This will help them expand their capacities and get listed in the markets which they can choose. 

Definition of MSMEs being changed in the flavor of their interest. Many of these firms fear that if they outgrow the designated size, they will lose their flavors. Nov they do not need to worry about growing in size. 

The investment limit which defined an MSME is being revised upwards. An additional criterion is also being brought in based on turnover. Differentiation between manufacturing and service MSMEs are being removed and the necessary law amendments will be brought about soon. This is the new definition.

Facts about Atma Nirbhar Bharat

Introduction

It is a new scheme that was launched in this Corona period just for the public. On one side the world was fighting with COVID-19 whereas, on the other side, it directly affected many jobs. Many people lost their jobs due to the steep decrease in the market. The situation was getting worse day by day and to cover up this scenario our Prime Minister took some steps to help people in this period. One of the major steps was Atma Nirbhar Bharat Scheme.

Some Facts to Know about Aatm Nirbhar Bharat

  • A scheme which was launched on 12 May 2020, by our Prime Minister Narendra Modi who told about this scheme in a public conference.
  • This scheme will run under the Ministry of Finance, Ministry of Defence, Ministry of Health, and Ministry of Electronics & IT. These ministries will directly be involved in this policy.
  • You can get detailed information and can also apply for this scheme on the online portal which is available on https://www.pmindia.gov.in/en/.
  • The main motive of this scheme was to make India self-reliant India’ so that we can minimize the import of at least small things.
  • Atma Nirbhar Bharat does not advocate about putting a full stop on imports but it has been launched to encourage Indians to step into self-development. Because there are sufficient talent and knowledge in the country but we don’t get a suitable platform.
  • PM Modi defines Atma Nirbhar Bharat as “The state of the world today teaches us that (Atma Nirbhar Bharat) “Self-reliant India” is the only path. It is said in our scriptures — EshahPanthah. That is — self-sufficient India”.
  • The slogan of Atma Nirbhar Bharat is ‘vocal for local’ which means raise your voice for local products because a famous brand was also local someday.
  • The main reason behind this scheme was COVID-19 in which many people lost their jobs and laborers too. So, this scheme was launched to help them.
  • A package of 20 lakh Crore rupees was announced in this scheme to help people.
  • Another reason for launching this scheme was the conflict between India and China. More than 50 Chinese apps have been banned to promote Indians to develop their own apps. Although there is no certain plan to totally abolish China it was launched just to promote national talent and promote India towards self-dependence.

Aatm Nirbhar Bharat – Conclusion

Every year, the government launches various schemes for people as per their needs. The main motive of all these schemes is development, either on the individual basis of the nation. Although many of our friends and relatives get jealous of our growth it is a government that feels happy when we grow because it directly affects our GDP.

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FAQs: Frequently Asked Questions

How much money has been allocated by the government of India to make India self-reliant?

The government of India has allocated 20 lakh crores for making India self-reliant.

What are the five pillars of Atmanirbhar Bharat?

The five pillars are economy, infrastructure, technology, demography, and demand.

What is the vision of launching Atmanirbhar Bharat Abhiyan?

The vision of this mission is to make India economically strong and self-sufficient.

When did the One nation, One ration card scheme become functional in India?

The one nation one ration card scheme has been implemented from 31 March 2021.

What is PMeVIDYA?

This program is a part of Atmanirbhar Bharat Abhiyan for promoting online education in the nation.

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