Prior to the lockdown 4.0 PM, Narendra Modi announced the Atmanirbhar Bharat Abhiyan a.k.a the Self-reliant India Mission the details of which will be disclosed soon by the government on May 18th. This mission includes a special economic package whose total value is 20 lakh crore which accounts for 10% of India’s GDP and the mission aims to achieve self-reliance, economically. Also while addressing the nation the PM emphasized on the significance of promoting local products since the local markets were the once which catered to our needs during the lockdown period. The 5 pillars on which this mission stands on are-
- SYSTEM BASED ON TECHNOLOGY DRIVEN ARRANGEMENTS
- VIBRANT DEMOGRAPHY
Soon after the announcement of this mission, Congress leader Shashi Tharoor took a shot at the mission statement that it was not an original idea but a reformed version of the Make in India initiative. But the taunt by Shashi Tharoor was rightfully correct since this package is not completely new and the economic value of this mission will be substantially less because it already includes the 1.6 lakh crore COVID-19 crisis package announced by the govt. on March 26th and the steps taken by the Reserve Bank of India since the beginning of the lockdown which provides additional liquidity of 5-6 lakh crore after which the around 12 lakh crores will the left in the package.
Since the effective value of the package has significantly decreased we would require a set of rigid reforms which should be followed to reach the ultimate objective of the mission i.e to become economically self-reliant. Some of the basic reforms that should be immediately put into force include-
- A proper tax system
- An effective financial system
- Capable human resources
- The market for agricultural products
If these reforms are followed up to a decent extent then this mission would be a success. So, let’s hope that the Self Reliant mission would allow the economic wheel of our country to gain momentum and help us to avoid crisis and recessions in the future.