What Is Atmanirbhar Bharat Abhiyan ?

The Hon’ble Prime Minister, Shri. Narendra Modi announced a special economic package on 12 May 2020 of Rs.20 lakh crore (equivalent to 10% of India’s GDP) under the ‘Atmanirbhar Bharat Abhiyan’. This special economic package was announced to make India independent against the tough global supply chain competition and help empower the labourers, poor and migrants who had been severely affected by the COVID-19 pandemic.

Accordingly, the Finance Minister, Smt. Nirmala Sitharaman announced the details of the measures provided under the Atmanirbhar Bharat Abhiyan through five press conferences. These measures are provided to different sectors and areas to cover and help everyone affected by the pandemic. The measures were announced keeping in mind the five pillars of Atmanirbhar Bharat Abhiyan. These five pillars are the pillars for making India self-reliant.

Reforms For MSME

• The Emergency Credit Line Guarantee Scheme (ECLGS) to Businesses or MSMEs from Banks and Non-Banking Financial Companies (NBFCs) up to 20% of the entire outstanding credit as of 29.2.2020.
• Rs.20,000 crore for Subordinate Debt for Stressed MSMEs.
• Rs.50,000 crore equity infusion for MSMEs through ‘Fund of Funds’, which are doing viable business but need hand holding due to the pandemic situation.
• Revision of MSME definition by increasing the upper limits of turnover and investments in plant machinery and equipment for MSME. The new definition differentiates MSME under the criteria of investment and annual turnover, which is the same for both the manufacturing and service sector.
• For protecting MSMEs from foreign company competition, global tenders of up to Rs.200 crore will be disallowed in government procurement tenders.

Ayoneeza Intellectual Property Rights Consultant providing expert advice and implementation on Atmanirbhar Bharat Abhiyan for Small Enterprises. Since its inception, the company has made a distinct mark for itself with its quality of service. It has helped many top-notch companies in settling or providing Atmanirbhar Bharat Abhiyan schemes. Backed by a team of think tanks from different walks of life it has helped various companies in getting their own brands.