ecently, Sonam Wangchuk, the inspiring man behind the movie 3 Idiots popularised the idea of deleting all applications that trace their roots to China, elaborating on how Indians help fund Chinese aggression on Indian soldiers by supporting Chinese apps. Not long before, the Prime Minister of India declared India’s new aspiration for Atma Nirbharta – self-reliance. If there is one thing that the pandemic has taught us – it is, that only our country’s national efforts that can help us tide. This is through the turbulent times of the global crisis. The package has been announced in various tranches. In this particular post, we outline what the Atma Nirbhar Package entails for three large stakeholders. In the Indian economic scenario – the Importers – Exporters, and the ultimate consumers. Further, trace how this new movement is expected to alter our daily consumption.
Atma Nirbhar Bharat 2020 – What the reforms entail?
- A 20 lac crore rupees package announcement by the Finance Minister recently, with its focus on five main pillars – Economy, Infrastructure, Demand, Vibrant Demography, and Arrangements drive by the 21st-century technologies.
- Just like the reforms in the 1990s, that focuses on Liberalisation and Privatisation, with an excessive focus on encouraging globalization. In India, through investments, foreign competition, the Atma Nirbhar Bharat suggests an almost anti stance. It expects to increase demand for locally manufacturing goods. Moreover, replace key input goods in various industries with Indian manufacturing ones. Channelize consumer demand towards what’s made within the borders of the country.
- The key sectors that the fourth tranche of announcements have focused on – our core infrastructures such as mining, defense, minerals, space, and aviation.
- A large part of the package is focused on improving agricultural supply chain efficiency. This would mean that not just the farmer, but also food processing companies, Agri-startups, self-help groups engaged in agricultural value addition would be empowered.