The central government of India launched the Atmanirbhar Bharat or self-Reliance India mission which includes an economic stimulus package of rupees 20 lakh and several reform proposals. This mission was established under the new India campaign. Prime Minister Narendra Modi announced this as a special economic package as a part of release measures in the aftermath of Covid-19. During the launch of Atmanirbhar Bharat Abhiyan Prime Minister Narendra Modi into fulfilling the dream of making 21st century India a self-reliant country.
Prime Minister Narendra Modi has outlined 5 pillars of Atmanirbhar Bharat that are economic infrastructure system vibrant democracy and demand. The government reforms are supply chain reforms for agriculture, rational tax systems, simple and clear laws, capable human resource, and, a strong financial system.
Mukhyamantri Matrushakti Yojana Launched By Prime Minister Narendra
Atmanirbhar Bharat: Five pillars of self-reliant India
- Economy- Quantum jumps, not incremental changes.
- Infrastructure- Aims to represent modern India.
- Systems- Aims to be technology-driven
- Demography- vibrant demography of the largest democracy
- Demand- full utilization of the power of demand and supply.
Atmanirbhar Bharat: Tranches announced by the government of India
|Tranche 1- It contains 16 specific announcements and they include MSME, NBFC, Real Estate, and Power sectors
- The deadlines for income tax returns for the financial years 2019 and 2022 were extended.
- The tax detection of source rate and tax collection at source workers by 25% for the coming year.
- The EPF support provided Lo income workers in smaller units under the PMGKY is being extended for another 3 months.
- PF payments have been reduced from 12% to 10% for both employers and employees for the next three months.
- The emergency credit line of Rs 3 lakh crores is announced which will ensure that 45 like units will have access to working capital to resume business activity and safeguard jobs.
- Up to 20000 crores of provision as per co-ordinate depth for 2 lakhs MSME which has stressed or deemed nonperforming assets.
- 50000 crore equity infusion is planned through an MSMEs fund of funds with a corpus of 10000 Crores
- The MSME is being expanded to allow for higher investment limits and the introduction of turnover-based criteria
- The Global traders will be allowed for government procurement up to rupees 200 course only.
- Within 45 days the government and the Central public sector enterprises will release all funds due to MSMEs.
- Special liquidity scheme of rupees 40000 under which investment will be made in investment-grade depth papers of NBFCs.
- The partial credit guarantee scheme extended under which the government guarantees 20% of the first loss to the landers.
||90000 crore liquidity injection has been announced.
||The states and union territories have been advised to extend the registration and completion date of real estate projects by 6 months.
|Tranche 2- It focuses on providing free food grains to migrant workers (Without Ration Cards)
|Free Food Grains
||The center will spend 33500 crores for providing free food grains for migraine workers who do not possess ration cards for the next 2 months.
- A 5000 crores scheme will be given to the street vendors for easy credit access. It will also offer a Rupees 10000 loan for initial working capital.
- The scheme plans to enroll 2.5 crore farmers who are not part of the Kisan credit card scheme. This also includes fish workers and livestock farmers and it will provide them with rupees 20 Lakh crores worth of concessional credit.
- Additional refinance support of work rupees 30000 crores to rural banks for crop loans will be provided by NABARD
||2% interest will be received for those who have taken loans for small businesses under the MUDRA-Shishu scheme worth rupees 50000 or less.
|Affordable rental housing
- It is a scheme to build rental housing complexes through PPP which will be launched under the existing Pradhan Mantri Awas Yojana scheme.
- The private and public agencies will be incentivized to build rental housing on government and private land.
- The credit link subsidy scheme for lower-middle-class housing under PMAY will be extended.
|One nation one ration one scheme
||The scheme aims to provide ration card portability to 67 crores NFSA beneficiaries in 23 connected States to use their cards at any shop anywhere in the country.
||States are directed to enroll migrant workers returning to their native places in the MGNREGA scheme.
|Tranche 3- It focuses on agricultural marketing reforms
- Plans to enact a central law to permit barrier-free interstate trade of farm commodities and e-trading.
- It also allows farmers to sell products at attractive prices beyond the correct Mandi system.
- It plans to ensure a facilitative legal framework to overseas contracting farmers.
- It will help and provide the farmers with a short sale prices and quantities even before the crop is sown and allow private players to invest inputs and technology in agriculture sector
- The center will be deregulating the types of 6 types of agriculture products including cereals, edible oils, oil seed, pulses, onions, and potatoes by amending the essential commodity act 1955.
- The stock limit will not be imposed on these commodities except in case of national calamity or famine on extraordinary sergeant prices. The stocks would not apply to processors and exporters.
||Investment of rupees 1.5 Lakh crore to build farm gate infrastructure and support logistics needs for fish workers, livestock farmers, vegetable growers, beekeepers, and related activities.
|Tranche 4- It focuses on the defense, aviation, power, mineral, atomic, and space sector
- The provisions for difference are to ban the import of some weapons and platforms to indigenize Defence production.
- There is a provision a for separate budget for domestic capital procurement. This would help to reduce the different import bills and encourage domestic production.
- The FDI limit in defense manufacturing under the automatic route will be raised from 49% to 74%.
- Ordnance Factory Board (OFB) would be corporatized and listed on the stock market to improve autonomy efficiency and accountability.
||The government Monopoly on coal would be removed with the introduction of commercial mining on a revenue-sharing basis and the private sector would be allowed to bit for 50 coal blocks.
- Private environment in space will be encouraged.
- The level playing field for private players will be created in the space sector allowing them to use ISRO facilities and participate in future projects on space travel and planetary exploration.
- The government will ease the geospatial data policy to make remote-sensing data more widely available to tech entrepreneurs with safeguards to put in place.
- 6 airports are up for auction in private-public partnership mode while additional private investment will be invited at 12 airports.
- Measures to ease air space restrictions have been announced which would make flying more efficient.
- Rationalising of MRO/maintenance repair and operation tax structure to make India and MRO hub.
||Power departments and utilities and distribution companies in union territories would be privatized based on a new traffic policy to be announced.
||Research reactors in the PPP mode would be set up for the production of medical isotopes.
FAQs on Atmanirbhar Bharat
1. What is Atmanirbhar Bharat Abhiyan?
Ans. Atmanirbhar Bharat Abhiyan is an initiative by Prime Minister Narendra Modi which is also known as the self-reliant India campaign which is a new vision of a new India.
2. How big is the Atmanirbhar Bharat package?
Ans. The Atmanirbhar Bharat package consists of a total of rupees of 20 lakh crores which also includes the reserve bank of India as per the government’s recent announcement on supporting key sectors and measures which is equivalent to 10% of India’s GDP.
3. What are the government reforms under Atmanirbhar Bharat Abhiyan?
Ans. The government reforms under the admin Bharat Abhiyan are announced by the finance minister which are supply chain reforms for agriculture, a rational tax system, simple and clear laws, capable human resources, and a strong financial system.