On May 12, 2020, Prime Minister Narendra Modi announced a new scheme called “Atma Nirbhar Bharat Abhiyan”. Under the new scheme, 20 lakh crore of package has been announced.
Features of the scheme
Under the scheme, the government of India is to support key sectors and also help achieve measures undertaken by Reserve Bank of India. The economic package is 10% of the GDP. The package will also focus on strengthening local markets and supply chains.
Benefits of the scheme
The scheme will pay special attention on tax payers, farmers, labourers, cottage industries and MSMEs. The main aim of the scheme is to become self reliant. The Scheme will also focus on Vocal for Local.
Vocal for Local
The COVID-19 impacts have brought highlights over the local supply change. India has been able to sustain the pandemic due to the local supply chain. Therefore, it has become important to strengthen the local produce. The scheme will not only help to strengthen the chain of local supply but will also promote the locally produced products.