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Aatmanirbhar Bharat Package Initiatives for MSME PDF
PM Modi’s announcement of the Atmanirbhar Bharat Abhiyan (आत्मनिर्भर भारत अभियान) marked a pivotal moment in India’s economic landscape, unveiling a comprehensive Rs 20 lakh Crore package aimed at revitalizing the nation’s economy. This initiative, built on the foundation of five pillars – Economy, Infrastructure, System, Vibrant Demography, and Demand, seeks to bolster self-reliance and resilience across various sectors.
The Atmanirbhar Bharat Abhiyan encompasses a special economic and comprehensive package amounting to Rs 20 lakh crores, equivalent to 10% of India’s GDP, underscoring the government’s commitment to fostering economic growth and stability. This unprecedented stimulus package is designed to stimulate key sectors, promote indigenous industries, and create a conducive environment for sustainable development.
Within the framework of the Aatm Nirbhar Bharat Abhiyan, the Narendra Modi government has spearheaded six major initiatives, totaling Rs 7.35 lakh crores, aimed at empowering various segments of the economy and driving inclusive growth. One of the flagship initiatives is the allocation of Rs 3 lakh crore for the MSME sector, wherein the central government is set to provide collateral-free loans to support MSMEs.
These loans, with a tenure of 4 years and a moratorium of 12 months, are expected to benefit approximately 12 crore workers. Additionally, a Subordinate Debt-based scheme has been introduced, allocating Rs 20,000 crores for stressed and NPA MSMEs, with around 2 lakh such enterprises poised to benefit from this support.
Another key measure under the Atmanirbhar Bharat Abhiyan is the Fund of Funds initiative, involving Rs 50,000 crore of equity infusion into businesses with growth potential and viability. The revision of the MSME definition, particularly the upward revision of investment limits and the inclusion of turnover criteria, aims to streamline and enhance the support provided to MSMEs. This move also eliminates the distinction between manufacturing and service-based MSMEs, fostering a more inclusive and holistic approach to sectoral development.
The decision to disallow global tenders for government procurement up to Rs 200 crore signifies a strategic move to promote domestic manufacturing and boost local businesses. This policy shift is expected to create a level playing field for Indian companies and encourage self-reliance in key sectors.
In addition to these initiatives, the Atmanirbhar Bharat Abhiyan envisions providing E-market linkage across the board for MSMEs, facilitating enhanced market access and promoting digital integration to expand business opportunities. This holistic approach aims to strengthen the MSME ecosystem, foster innovation, and drive economic growth at the grassroots level.
Overall, the Atmanirbhar Bharat Abhiyan represents a transformative vision for India’s economic resurgence, underpinned by a strategic blend of policy interventions, financial support, and sector-specific reforms. By prioritizing self-reliance, innovation, and inclusive growth, this initiative sets the stage for a resilient and vibrant economy that empowers all segments of society and propels India towards a sustainable and prosperous future.
Aatmanirbhar Bharat Package / Initiatives for Businesses Including MSME’s
- The Aatma Nirbhar Bharat Abhiyan, also known as the Self Reliant India Scheme Package for businesses, particularly MSMEs, encompasses a comprehensive set of measures aimed at revitalizing the economy and fostering self-reliance. This initiative, introduced by Prime Minister Narendra Modi, outlines a strategic vision to empower businesses and promote indigenous industries.
- The Prime Minister’s vision behind the launch of the Aatma Nirbhar Bharat Abhiyan is to build a self-reliant India, emphasizing economic resilience and sustainability. This scheme aligns with the broader objective of enhancing economic growth and fostering a conducive environment for businesses to thrive.
- Under the scheme, the Pradhan Mantri Garib Kalyan Yojana plays a crucial role in providing support to the economically vulnerable sections of society, ensuring social welfare and financial security amidst challenging times.
- The Reserve Bank of India has also taken proactive measures to support businesses, including MSMEs, by implementing various initiatives to bolster liquidity, credit flow, and financial stability in the economy.
- Businesses, especially MSMEs, stand to benefit significantly from the Aatma Nirbhar Bharat Abhiyan, with provisions such as collateral-free automatic loans amounting to Rs. 3 lakh crores and a Rs. 20,000 crores subordinate debt scheme tailored to assist stressed MSMEs.
- The scheme also addresses the MSME sector by revising the existing definition to encompass a broader range of enterprises, thereby ensuring more comprehensive support and inclusivity within the sector.
- The disallowance of global tenders up to Rs. 200 crores aims to promote domestic manufacturing and create a level playing field for Indian businesses, fostering self-reliance and indigenous production.
- Various interventions, including financial support such as the Rs. 2,500 crores EPF support, liquidity schemes for NBFCs, HFCs, and MFIs, and credit guarantee schemes, are designed to provide a much-needed boost to businesses and workers across different sectors.
- Overall, the Aatma Nirbhar Bharat Abhiyan is a holistic and strategic initiative that aims to rejuvenate the economy, enhance the resilience of businesses, and propel India towards a self-reliant and prosperous future.