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Aatma Nirbhar Bharat Abhiyan -आत्मनिर्भर भारत अभियान Complete Details PDF
The Self-reliant India Campaign, also known as the Aatma Nirbhar Bharat Abhiyan, encapsulates the comprehensive economic package introduced by the government. This initiative aims to bolster India’s self-sufficiency and resilience in the face of economic challenges. The Prime Minister’s vision behind launching this campaign is to foster a self-reliant India that can thrive independently and contribute significantly to the global economy.
Central to the Self-reliant India Campaign are the five pillars that form the foundation of this transformative initiative. These pillars encompass various facets of the economy, including infrastructure, technology-driven systems, vibrant demography, demand, and supply chains. By focusing on these pillars, the campaign aims to create a robust and sustainable economic ecosystem that empowers businesses, especially Micro, Small, and Medium Enterprises (MSMEs), to flourish and drive economic growth.
One of the key highlights of the Aatma Nirbhar Bharat Abhiyan is the government’s commitment to supporting MSMEs through financial assistance. The announcement of collateral-free automatic loans amounting to Rs 3 lakh crore underscores the government’s dedication to strengthening the MSME sector, a vital component of India’s economic landscape. Additionally, subordinate loans worth Rs 20 thousand crore will be extended to Non-Performing Asset (NPA) and stressed MSMEs, providing them with the necessary financial lifeline to navigate challenging times.
In a significant move to boost MSMEs, the government has revised the definition of MSMEs to better align with their operational realities. This revision ensures that businesses in both manufacturing and service sectors retain their MSME status, even if their turnover exceeds certain thresholds. Furthermore, the prohibition of global tenders in government procurement up to Rs 200 crore fosters a conducive environment for domestic businesses, particularly MSMEs, to participate and benefit from government contracts.
The Aatma Nirbhar Bharat Abhiyan also includes measures to alleviate financial burdens on various sectors. For instance, employees with salaries below Rs 15,000 will receive support through the government’s contribution to their Employees’ Provident Fund (EPF) until August. Moreover, a special liquidity scheme of Rs 30,000 crore has been earmarked for Non-Banking Financial Companies (NBFCs) and microfinance institutions to enhance their liquidity and ensure financial stability.
The extension of the due date for filing Income Tax returns for the financial year 2022-23 to 30th November 2023 provides relief to taxpayers, allowing them additional time to fulfill their tax obligations. Additionally, contractors are set to benefit from the relief measures introduced as part of the Self-reliant India Campaign, underscoring the government’s commitment to supporting various sectors of the economy during these challenging times.
The comprehensive measures outlined in the Aatma Nirbhar Bharat Abhiyan reflect the government’s proactive approach to bolstering the economy, supporting businesses, and fostering self-reliance across different sectors. By leveraging these initiatives, India aims to emerge stronger, more resilient, and self-sufficient in the global economic landscape.
Aatma Nirbhar Bharat Abhiyan
- The Aatma Nirbhar Bharat Abhiyan, also known as the Self-Reliant India Scheme, is a comprehensive initiative aimed at enhancing India’s self-sufficiency and resilience in the economic realm. The scheme encompasses various key components that are crucial for its successful implementation and impact on different sectors of the economy.
- At the core of the Aatma Nirbhar Bharat Abhiyan is the Prime Minister’s visionary outlook, which seeks to propel India towards self-reliance by fostering a robust and self-sustaining economic ecosystem. This vision underscores the importance of empowering businesses, especially Micro, Small, and Medium Enterprises (MSMEs), to thrive independently and contribute significantly to India’s economic growth.
- The initiative is structured around five fundamental pillars that form the bedrock of Aatma Nirbhar Bharat, encompassing infrastructure development, technology-driven systems, a vibrant demographic dividend, robust demand and supply chains, and various other critical aspects that collectively drive economic progress and resilience.
- One of the key highlights of the scheme is the provision of collateral-free automatic loans amounting to Rs. 3 lakh crores for businesses, particularly benefiting MSMEs. Additionally, stressed MSMEs stand to gain from a Rs. 20,000 crores subordinate debt scheme, providing them with the necessary financial support to navigate challenging times and sustain their operations.
- The revised definition of MSMEs plays a pivotal role in ensuring that businesses in both manufacturing and service sectors retain their MSME status, even as their turnover surpasses certain thresholds. Moreover, disallowing global tenders up to Rs. 200 crores creates a conducive environment for domestic businesses, particularly MSMEs, to participate in government procurement and seize new opportunities.
- Numerous interventions have been introduced to support MSMEs, including a Rs. 2,500 crores EPF support for businesses and workers for an additional three months, along with a reduction in EPF contributions aimed at providing liquidity support amounting to Rs. 6,760 crores over three months. Furthermore, a special liquidity scheme of Rs. 3,000 crores has been allocated for Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs), and Microfinance Institutions (MFIs) to bolster their liquidity and ensure financial stability.
- The scheme also encompasses a Rs. 45,000 crores partial credit guarantee scheme 2.0 for NBFCs, a Rs. 90,000 crores liquidity injection for DISCOMs, relief measures for contractors, and an extension of registration and completion dates for real estate projects under RERA. Additionally, a liquidity infusion of Rs. 50,000 crores through TDS/TCS rate reduction and other direct tax measures further support businesses and sectors across the economy, reinforcing the government’s commitment to fostering self-reliance and economic growth in India.