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.