Essay On Self-Reliant India Mission In English
Essay On Self-Reliant India Mission In English
In this era of globalization, all countries are interlinked. In this case, the definition of self-reliance has also changed.
Self-reliance is different from self-centered. India believes strongly in the concept of Vasudhaiva Kutumbakam.
India is a part of the world, if India progresses, it also contributes to the progress of the world by doing so. Globalization will not be boycotted in building a self-reliant India but will be helped in the development of the world.
Therefore, for us, a self-reliant India means improving the quality of life of people with economic development while remaining connected to the world.
Mahatma Gandhi believed that every village should be Self-Reliant in meeting its needs, only then a true Gram Swaraj can be established there.
He emphasized the promotion of cottage industries to promote the village, including the promotion of charkha and khadi.
Now after the crisis arising from the coronavirus as a side effect of globalization, the intention is to develop a rural economy on the basis of Gram Swaraj itself.
Self-reliant India’s Strategy
Under the strategy of self-reliant India, the government has focused on 4L: land, labor, liquidity, and law.
Land: No industry can be established without land. In such a situation, the land issue will be cleared for the establishment of industries.
Labor: Even without labor, industry or trade cannot be imagined, but there are many complications regarding the labor law in India. For this, logical laws need to be made.
Liquidity: Liquidity is also very important to run the wheel of economic activities.
Law: There are many such complicated laws in the country, due to which the development is hindered, so major changes will be made in the law to clear the way for Self-Reliant.
Five pillars for self-reliant India
- Vibrant Demography
- Economy:- An arrangement that is based on quantum jump rather than incremental change.
- Infrastructure:- that became the identity of modern India.
- Technology:- System based on the technology-driven system.
- Vibrant Demography:- This is a source of energy for Self-Reliant India.
- Demand:- For this, the target has been set to harness the full potential of India’s demand and supply chain.
Declaration of Important Economic Reforms
The total economic package of 2097053 crores for the self-reliant India campaign includes Rs 1 lakh 92800 crores of the previously released Prime Minister Garib Kalyan Package and monetary measures of Rs 801603 crores of RBI.
Finance Minister Nirmala Sitharaman introduced this package in 5 installments.
The government has announced various central schemes for MSMEs and other sectors.
FDI limit will be increased from 49% to 74% from an automatic route in the defense manufacturing sector.
The viability gap funding scheme will be implemented to increase private investment in the social infrastructure sector.
To improve the capacity of the private sector, private sectors will be allowed to use ISRO facilities and relevant assets.
In order to enable farmers to get a better price for their produce, the government will change the Essential Commodities Act.
Why Criticize the Package?
But the long-term measure of economic reforms is more in the package and the immediate relief seems less.
For migrant laborers and the poor, 5 kg ration per person and 1 kg gram per family will be provided for 2 months. The amount being given under Direct Benefit Transfer is very less and it has reached only those people who have Jan Dhan account.
In such a situation, the large population who do not have an account has been deprived of such financial help.
There is also a criticism that almost 90% of the package is linked to giving loans at cheaper rates or easing the terms of the loan and giving some interest rebate on cutting interest rates or making quick payments.
Critics say that the government does not have to spend a fair amount of money. While spending appropriately is necessary to prevent the deterioration in the economy.
When spending increases in the economy, it increases consumption and when consumption increases, the production also increases. In this way, the cycle of economic activity starts.
That is why many economists were constantly raising the demand that money should be given in the hands of the poor so that it could spend and the cycle of trade could catch the pace.
Challenges Self-Reliant India Mission
But financing this package can be quite difficult as the government is already worried about the growing fiscal deficit and is constantly trying to reduce it.
It is also difficult to raise finance by accelerating disinvestment as most of the PSUs are burdened with debt.
The privatization of PSUs in the midst of conditions such as the economic downturn will not give the government too many buyers and in the absence of competition, the privatization will not provide the required funds.
Apart from this, it is also difficult to borrow from foreign markets because the rupee is in a weak position against the dollar.
In this way, it will also not be easy to achieve Self-reliance. Local entrepreneurs and manufacturers will also have to provide some security money to produce local products and make them competitive.
Which may lead to a direct confrontation of India with the members of the World Trade Organization.
Therefore, we have to move forward taking lessons from our experience.
Conclusion (Essay On Self-Reliant India)
To attract China-based foreign companies to invest in India, India will have to build a world-class infrastructure. To revive the economy of India in this way, the government will have to focus on developing the manufacturing sector.
So that employees can be created on a large scale and the country’s infrastructure can also be strengthened. One negative consequence of liberalization was that industrialization became concentrated in cities.
It will not be possible for a self-reliant India to move forward only on the basis of economic reform.
Rather, the government will have to promote holistic reforms across the country, focusing on several dimensions including labor reforms, civil service reforms, skill reforms so that capable human resources are available in the country.
Also, there is a need to make the tax system rational. The government will have to move towards simple and clear legislation.
Supply chain-based reforms will have to be encouraged for the agriculture sector so that the rural economy can get a boost.
In backward states, attention should be paid to the development of cottage and small-scale industries such as village industries, handloom industries, handicrafts industries, food processing industries.
So that employees can be created at the local level, local products can be identified and the local supply chain can be strengthened. With this, the Indian economy will emerge in a new form after the crisis of Coronavirus.
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