PM Modi in his fifth address to the nation unveiled some big economic reforms. PM Modi announced an economic package totaling Rs 20 lakh crore to fight the Coronavirus crisis under ‘Atmanirbhar Bharat Abhiyan’. The Rs 20 lakh crore package includes the government’s recent announcements on supporting key sectors and measures by Reserve Bank of India (RBI). While details will be unveiled in the upcoming days by Union FM Nirmala Sitharaman, the internet thinks it is a silent attack by India to cripple China's economy.
What Is Atmanirbhar Bharat Abhiyan?
The Atmanirbhar Bharat Abhiyan goal is to make India self-reliant, and identified economy and infrastructure as key drivers for it. To understand in a better way take the example of Mahatma Gandhi's 'Swadeshi Movement'. It was an economic strategy aimed at removing the British Empire from power and improving economic conditions in India by following the principles of swadeshi i.e. made in India products and boycott of foreign goods.
As per PM Modi making the country self-reliant is the only way to make the 21st century belong to India. In his address, he said, "India’s self-reliance will be based on five pillars — economy, infrastructure, technology-driven system, vibrant demography, and demand. When India speaks of self-reliance, it does not advocate for a self-centered system. In India’s self-reliance, there is a concern for the whole world’s happiness, cooperation, and peace."
The special economic package under Atmanirbhar Bharat Abhiyan will also be focusing on land, labor, liquidity, and laws.
How Much China Earns From India?
The Chinese juggernaut continues to take colossal strides across India. Whether it is China-manufactured mobile phones, Chinese venture capital investments or the ubiquitous cheap toys, their presence cannot be denied. As per reports, Chinese imports from India amounted to $16.4 billion or 0.8% of its overall imports, and 4.2% of India's overall exports in 2014. So if India decides to ban Chinese imports, the following goods will be affected.
Electronic equipment: $16 billion
Machines, engines, pumps: $9.8 billion
Organic chemicals: $6.3 billion
Fertilizers: $2.7 billion
Iron and steel: $2.3 billion
Plastics: $1.7 billion
Iron or steel products: $1.4 billion
Gems, precious metals, coins: $1.3 billion
Ships, boats: $1.3 billion
Medical, technical equipment: $1.2 billion
Note: The numbers might change depending upon the current scenario
Internet Is Impressed With Atmanirbhar Bharat Abhiyan:
