Self-Reliant India in a COVID ridden world


“Everyone wants to be strong and self-sufficient, but few are willing to put in the work necessary to achieve worthy goals.”

_ Mahatma Gandhi

“The world has been going through global suffering that has been caused due to the coronavirus”, this statement made by Antonio Gutteres the Secretary General of the UN at the Y-20 Summit which was held online in Saudi Arabia. The above statement highlights how the world as a whole has faced a major setback. In the beginning of 2020 as the COVID 19 virus started spreading slowly in China all countries started preparing for combatting a problem which no one had foreseen. After COVID-19 reached countries in the European Union like Italy, Spain, Germany it shortly reached USA following which it entered in India and as per the anticipation of everyone familiar with the spread of the virus, India went under complete lockdown for several days. The lives of 130 billion people were disrupted. Unfamiliar words like quarantine, lockdown, social distancing become mandatory. There was a great degree of anxiety, uncertainty and uneasiness amongst the people due to the lockdown to safeguard the lives of people and to ease of the worries of the public the central government initiated several bold reforms for the welfare of citizens along with sustaining the economy of the country. One reform that stood and attracted the attention of every Indian was the Atmanirbhar Bharat Abhiyan, (Self Reliant India Mission) launched by our PM Narendra Modi which aims to push India towards self-reliance.

The Honorable Prime Minister Shri Narendra Modi in his address to the nation on 12th May announced the launch of Atmanirbhar Bharat and announced a 20-lakh crore economic package for the Self-Reliant India Mission for bringing the country out of the coronavirus crisis and also to make our country self-reliant. The package was announced keeping the five trenches that would be necessary for making India self –reliant.

“When India speaks of becoming self-reliant, it doesn’t advocate a self-centred system. In India’s self-reliance; there is a concern for the whole world’s happiness, cooperation and peace”.

-Hon’ble PM Modi on Self Reliant India Mission

Economy, infrastructure, System, Demography& Demand are the five pillars that can help India self-reliant.

Impact of Self-Reliant Mission on Economy

The Minister of state for finance Shri Anurag Thakur has said that the Ministry of Finance is swiftly implementing various schemes announced under the 20.97 lakh crore Atmanirbhar Bharat Abhiyan package which is going to have a multiplier effect on the Indian economy.

The Minister of Finance Shri Anurag Thakur emphasised that India’s resilience will sail the country this testing times.

The PM Modi led government is doing everything possible for Indians and the industrial sector to cope up with the challenges caused by the outbreak of the COVID-19 pandemic.

The Finance Ministry has been monitoring the situation on a regular basis and implementing announcements made so far

The FM Srimati Nirmala Sitharaman in her speech announced that a new Public Sector Enterprises (PSEs) policy.

In accordance with the new PSEs policy, the government will open up all sectors for the private sector participation while the PSEs will play a important role in strategic sectors.

The RBI had announced a 3-month moratorium a policy that is used for helping individuals in the repayment of loans by unofficial reports it has come to light that the initiative might be extended which will increase the cash in hand for individuals.

Through the Self-Reliant Mission, the government has also provided emphasizes on protecting domestic firms and helping the firms to grow this has also been witnessed when the Prime Minister gave the call “to be local for vocal.

The government has also launched the Emergency Credit Line Guarantee Scheme which has been announced by the Finance Ministry for aiding micro, small and medium Enterprises sector (MSMEs) sector in view of the economic distress caused by the COVID-19 pandemic

A Guaranteed Emergency Credit line facility would be provided to the MSMEs the facility is a fund based- Working Capital Term Loan would be provided.

Business Enterprises/MSMEs would include loans covered under the Pradhan Mantri Mudra Yojana extended on or before 29/2/2020 and reported on the Mudra portal.

All business enterprises /MSMEs borrower account with combined outstanding loans of up to Rs 25 crore as on 29/2/2020 and a annual turnover of up to RS 100 crore for fiscal year 2019-20 are eligible for the scheme.

Impact of Self- Reliant Mission on Infrastructure

For India to become a 5 Trillion economy by 2025 and to become a global manufacturing hub the growth of infrastructure is essential

The National Infrastructure Pipeline (NIP) is a major initiate taken by the government with a investment of over 100 lakh crore being made for building world class infrastructural facilities.

In India, 65 percent of the population resides in rural areas, the upgradation of rural infrastructure is an essential for ensuring that the rural population has a access to basic amenities.

The Cluster Upgradation Scheme (IIUS) is going to be implemented in several states for the Industrial Cluster Upgradation of common infrastructure facilities and connectivity,

Infrastructure ranging from physical structures to digital highways are going to be developed for attracting innovation in multiple sectors like construction material for roads and buildings., green buildings, smart energy meters, waste and water treatment etc are some key parameters by which innovation can be promoted through infrastructure.

Innovation will play a vital role in the growth of India but for that the development of infrastructure is important.

The implementation of AI for work flow management and drone surveillance are some solutions that can be implemented for overcoming India’s deficiencies in infrastructure the implementation of the above will also lead to flourishing of other sectors in the economy.


Impact of Self-Reliant Mission on System

India has been pursuing the path of self-reliance amidst the coronavirus pandemic this is evident from how until March 2020 when India did not produce any PPE kits to now where it has a production capacity of 2 Lakh PPE kits.

The Prime Minister has highlighted that self-reliance is essential for India’s global competitiveness.

India’s initiatives such as International Solar Alliance have helped in global progress.

The coronavirus pandemic has also shown the importance of local markets and local businesses in the Indian economy.

The PM Shri Narendra Modi has launched the “Local for Vocal “initiative which aims at strengthening local businesses and start-ups to be competitive at the global level.

The local products can also serve as an alternative for increasing the Indian exports

The post COVID-19 revival has given a major thrust to agriculture. The income generation through agriculture and allied activities is also expected to support the MSME sector

The Self- Reliant Mission will also emphasize on making the systems technology driven

The government has made changes in the NBFC (Non-Banking Financial Company) guarantee scheme like CPs(Commercial Paper) the commercial paper is a short -term debt instrument issued by companies for raising funds for a period of one year the commercial paper is also used for meeting short-term financial obligations for addressing the concerns of people the changes in the NBFC scheme will help the low rated NBFCs by the injection of liquidity through the scheme will also help the NBFCs in building confidence.





Impact of Self-Reliant Mission on Demography


India is the world’s largest democracy through the self-reliant mission it aims at becoming a vibrant demography. This burning objective to be a vibrant demography came from the migrant crisis which was a consequence of the divergence between the developed and developing states. One of the solutions to overcome this divergence is by providing high growth employment opportunities in every state

India is the world’s largest democracy through the self-reliant mission it aims at becoming a vibrant demography. This burning objective to be a vibrant demography came from the migrant crisis which was a consequence of the divergence between the developed and developing states. One of the solutions to overcome this divergence is by providing high growth employment opportunities in every state


Uttar Pradesh and Bihar are among India’s most populous states with an approximate 23.7 crore and 12.3 crore people residing respectively in both states. The Total Fertility Rates are also high with U.P at 2.74 and Bihar at 3.41 compared to the national average of 2.18. The data indicates that both these states will have a large share of the youth population even as the rest of India ages faster.

The above statistic of the Total Fertility Rate presents a duo fold scenario the significant competitive advantage as well as a economic challenge

U.P was fifth in terms of state output in the fiscal year 2019-2020 accumulating a GDP of Rs 16 lakh crore, however in terms of PCI it accumulated a lowly 69,425 crore slightly above Bihar which accumulated a estimated 48,093 crore PCI which economists highlighted was a result of inferior planning

For India to become a vibrant demography it is essential that each state has a smooth transition in terms of the sectoral shift employment opportunities.

Each state needs to take measures for thwarting its population from agriculture to other labour utilisation sectors.


Impact of Self-Reliant Mission on Demand

For India to become Self-Reliant demand will play a important role through the Self-Reliant package the central government is attempts to fully utilise the power of demand and supply forces

PM Modi in his speech had mentioned about the importance of becoming Local for Vocal

The Central Government has also launched several schemes in different sectors for increasing the demand of local products

For promoting Herbal Cultivation, the central government is providing farmers several incentives through various schemes like the Kisan Credit Scheme further relief loans up to Rs 30,000 crore will also be provided through NABARD

The Technology Development Fund Scheme has been launched by the Ministry of Defence the scheme aims at making India self-reliant in the field of defence technology. The programme will be executed by the DRDO

Through various schemes like beekeeping support scheme, PM Matsya Sampada Yojana and many others the government is attempting to improve the infrastructure in several sectors which will lead to a rise in the aggregate demand at the local as well as international markets



A dual track approach: Strengthening Exports in India:


The idea of adopting a ‘dual track’ policy is primarily to improve foreign exchange. Foreign exchange — generated through exports — helps to pay for imported technology and equipment required to build capacity in import-substituting industries. Taiwan and China both promoted exports as a means of supplementing their ISI policies. In the absence of such export promotion, a horizontal ISI-only policy can negatively affect growth.

This brings up an important question: What will globalization and trade look like in a post-pandemic world?

Countries will have major trade falls, imbalances, and disputes with each other and will seek to exploit every little opportunity for their gain. Similarly, countries will also use trade as a weapon to economically coerce (and even bully) other countries into granting them special trade concessions or strategic favors like seizures of key assets. China’s managing of the Hambantota port in Sri Lanka and Gwadar port in Pakistan are key examples.


Conclusion:


The Atmanirbhar Bharat Package is a gigantic step to help Indians and the Indian economy tackle the COVID-19 affliction and lays the groundwork for India to become a $5 Tn economy by 2025.

The government by commencing this campaign has led a true Swadeshi movement and resonates with Sangh’s philosophy to augment and revolutionize Indian products.

It's an important mission for the economic resurrection and improvement of the Indian economy under lockdown. It can help accomplish the dream of India being economically stable, technologically superior, self-reliant in its needs. The integrated procedure can help the much-discussed India-Bharat gap and achieve the aspiration of an equitable society.


Authored by

Harsh Pargat and Manoj Khetan

(2nd National Article/Essay Writing Competition)

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