Prime Minister Narendra Modi in May announced a special economic package to give a boost to the embattled economy that was brought to a screeching halt by the coronavirus pandemic. It was also aimed at providing financial support to those who had taken a hit during the lockdown. Making the announcement, PM Modi gave the clarion call for Atma Nirbhar Bharat to tide over the coronavirus crisis.
The package worth Rs 20 lakh crore included earlier announcements by the central government, following the outbreak of the pandemic, and decisions were taken by the Reserve Bank of India (RBI). Atma Nirbhar Bharat Abhiyan focuses on making India self-reliant.
The special package lays emphasis on land, labour, liquidity, and laws. It aims to revive the cottage industry, MSMEs, labourers, middle class, and industries, among others.
“This economic package is for our cottage industry, home industry, our small-scale industry, our MSMEs, which is a source of livelihood for millions of people, which is the strong foundation of our resolve for a self-reliant India,” Prime Minster said.
PM Modi added that the stimulus is for industries that are “determined to give a boost to the economic potential of India.”
Atma Nirbhar Bharat Abhiyan is based on five pillars – Economy, Infrastructure, Technology-driven system, Vibrant demography, and Demand.
However, the government has clarified that working towards self-reliance does not mean taking a protectionist path.
Atma Nirbhar Bharat Innovation challenge
Keeping in view the self-reliant mission, PM Modi on July 4 launched the Innovation challenge to create an Atma Nirbhar app ecosystem.
“Today, when the entire nation is working towards creating an Atma Nirbhar Bharat, it is a good opportunity to give direction to the efforts of our start-up and tech ecosystem to innovate, develop and promote homegrown apps,” the prime minister said in a LinkedIn post.
A Mega Hackathon was organized and was streamed live from 12 noon to 5 pm. The challenge saw the participation of 6,940 tech entrepreneurs and start-ups in India.
The Innovation Challenge was unveiled in eight categories – office productivity and work from home, social networking, e-learning, entertainment, health and wellness, business including agritech and fintech, news, and games.