ECONOMY

JULY 31, 2020

INDIA GOES LOCAL: HOW CAN WE CONTRIBUTE TO ATMANIRBHAR BHARAT ABHIYAN

"When we talk about Self-Reliant Bharat, we should prepare ourselves also for tough competition".

                                                          - Nirmala Sitharaman

What is Atmanirbhar Bharat Abhiyan or Self-Reliant India ? What are its consequences on various sectors of the economy ? Atmanirbhar Bharat Abhiyan economic package is how much equivalent to India's GDP ? What are the pillars of Self-Reliant India Movement ? How can I contribute to this mission ?  Let's see the answers of possible questions.

The Prime Minister has announced the Self-Reliant India Mission (or Atmanirbhar Bharat Abhiyan) with an economic stimulus of ₹20 lac crores aimed towards achieving this mission. The announced economic package is 10% of India's

The collateral free loan of ₹3 lakh crores for MSMEs and will benefit 45 lac units so that they can resume work and save jobs. For Non-Banking Financial Companies, ₹45000 crore partial credit guarantee scheme 2.0 for NBFCs. 20% loss will be borne by the guarantor i.e. Government of India. Reduction of 25% of existing rates of TDS and TCS till March 2021 would be given. Income Tax Returns (ITR) extended from July 31, 2020 to November 30, 2020. Finance Minister also said that the

I contribute to Atmanirbhar Bharat Abhiyan by using the local products as announced by our Prime Minister Narendra Modi such as Patanjali, Amul (Anand Milk Udyog Ltd.), Dabur, Asian Paints, Dalda, Jio, Indian Oil Corporation, Bharat Petroleum, Oil and Natural Gas Corporation (ONGC) etc.  and not the global products seeing the current scenario of Covid-19 in the country and also the Chinese products such as Oppo, Vivo, Haier,  Beijing Automotive Industry Corporation (BAIC) etc. For Vocal for Local,  all citizens should use Indian (Swadehi) products and to promote income and growth in the country. This will improve the economy  and GDP of the country.

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Labels: Economy, Self-Reliant India,

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