Sectors to benefit from Atma Nirbhar Bharat Abhiyan

1. Micro, Small and Medium Enterprises

2. Power Distribution Companies

3. Agriculture and allied sectors

4. Civil Aviation

5. Coal Sector and Minerals

6. NBFCs/HFCS

7. Real Estate

Atma Nirbhar Bharat Abhiyan Package Breakup

Now, let us take a look at the complete break-up of the package launched to make India ‘self-reliant’.

Tranche 1,2,3 & 4

Tha concept behind Atma Nirbhar Bharat Abhiyan

 Tha focal point of the concept is to make the nation self-reliant with more focus on local manufacturers and service providers.

This will strengthen the economy, improve the standard of living and most importantly improve the trade deficit and the exchequer balance of the country.

Making the country self reliant in all spheres- from manufacturing to supplying. It will help the country to reduce its dependence on imports and may also give a boost to exports.

The fall in imports will help reduce the trade deficit and will eventually lead to trade surplus.

And will also ensure that the country is able to sustain and tackle any black swan event that may emerge in future.

As per Prime Minister Narendra Modi, the fiscal stimulus will help revive every sphere of the economy- from demand, supply to manufacturing.

The package will focus on land, labour, liquidity and laws, so as to achieve self-reliance. The relief measures were announced in tranches by the Finance Minister Nirmala Sitharaman.

All that you need to know about Atma Nirbhar Bharat Abhiyan

• The government announced the “Atma Nirbhar Bharat Abhiyan” so as to revive every sphere of the economy from demand, supply to manufacturing, and make India self-reliant to sustain and tackle any Black Swan event in the future.
• The package is divided into four tranches, where each tranche has their own focus areas.
• The package’ score focus is on MSMEs and agriculture and its allied activities.
• However, the package fails to bring optimism and confidence among the corporate as it focuses more on indirect benefits, with a major focus on loan disbursal.
• It would have been for the benefit of the corporate if the government would have provided direct benefits like cash support and pause or reduction in GST payments.

This would have helped in reducing the prices of the products, thus leading to higher demand

The world’s biggest lockdown imposed to contain the spread of COVID-19 has severely impacted the domestic economic activities as it brought nearly 70% of economic activity, investment, exports, and discretionary consumption to a standstill.

So, to improve the prevailing turbulent economic environment and to provide a boost to the ailing economy the current government announced the Atma Nirbhar Bharat Abhiyan, a financial package of Rs 20 lakh crore equaling to 10% of the national GDP.

Summary of announcements : Aatma Nirbhar Bharat Abhiyaan

“Atmanirbhar Bharat”

On May 12, the Prime Minister, Mr. Narendra Modi, announced a special economic package of Rs 20 lakh crore (equivalent to 10% of India’s GDP) with the aim of making the country independent against the tough competition in the global supply chain and to help in empowering the poor, labourers, migrants who have been adversely affected by COVID.  Following this announcement, the Finance Minister, Ms. Nirmala Sitharaman, through five press conferences, announced the detailed measures under the economic package.