AtmaNirbhar Bharat: Covid19 Special Economic Package – Key Points

AtmaNirbhar Bharat: Covid19 Special Economic Package – Key Points

In his address to the nation on 12th May 2020, Prime Minister Modi gave a clarion call for Atmanirbhar Bharat Abhiyaan (आत्मनिर्भर भारत अभियान) – or Self-Reliant India Movement.

To help mitigate ongoing Covid19 crisis and to provide much needed boost towards achieving ‘Atmanirbhar Bharat’ he announced a Special economic and comprehensive package of Rs 20 lakh crores – equivalent to 10% of India’s GDP

He said that a self-reliant India will stand on five pillars viz.

  • Economy, which brings in quantum jump and not incremental change;
  • Infrastructure, which should become the identity of India;
  • System, based on 21st century technology driven arrangements;
  • Vibrant Demography, which is our source of energy for a self-reliant India; and
  • Demand, whereby the strength of our demand and supply chain should be utilized to full capacity.

Main Components of Atmanirbhar Bharat Abhiyaan:

Consequently, Finance Minister Smt. Nirmala Sitaraman conducted a series of 5 press conferences and announced measures under the Atmanirbhar Bharat Abhiyaan (आत्मनिर्भर भारत अभियान). Measures announced in each of these presentations have been summarised as below posts:

DatePartFocus Sectors & Posts
13/05/2020Part IMSME, EPF, Gareeb Kalyan, RERA, Credit
14/05/2020Part IIFarmers, Migrants, Labours & their Credit Supply
15/05/2020Part IIIAgriculture & Allied Sectors
16/05/2020Part IVCoal, Minerals, Aviation, Defence, Space,
Atomic Energy, Electricity Tariffs
17/05/2020Part VEase of doing business, Health, Education, Support
to State Governments

Overall Stimulus provided by Atmanirbhar Bharat Package

S. NoItemRs. Crores
1Part I5,94,550
2Part II3,10,000
3Part III1,50,000
4Part IV & Part V48,100
Sub-Total (1)11,02,650
6Earlier Measures inc. PMGKP1,92,800
7RBI Measures (Actual)8,01,603
Sub-Total (2)9,94,403
Grand Total20,97,053

Economic Stimulus Details:

References:

आत्मनिर्भर भारत | Atmanirbhar Bharat Abhiyaan | Key Points | आत्मनिर्भर भारत | Special Economic package India

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