Atmanirbhar Bharat: Indian Economy Redefined?

Atmanirbhar Bharat: Indian Economy Redefined?
Author(s):
Saumyaa S. Rajani
Keywords:
Aatmanirbhar, Bharat, COVID-19, Fiscal Stimulus, Indian Economy, RBI, Self-reliance
Abstract
The unprecedented and almost catastrophic COVID-19 was the onset of many problems for many nations. India was no exception. Having faced a shutdown in economic activity for approximately three months, the Indian economy was no exception to the global liquidity crisis. India’s central bank, the Reserve Bank of India (RBI) announced many monetary measures to deal with this crisis, and the Government of India too announced a fiscal stimulus package called Aatmanirbhar Bharat. This package adds up to 20 lakh crore rupees (Massand et al., 2020). Accordingly, this paper first aims to assess the Atmanirbhar Bharat Package in terms of the effectiveness of five tranches, and whether each tranche’s respective aims have been met, in at least some respect, or not. Furthermore, this paper contains a critical appraisal of this package, to understand its shortcomings and its usefulness. To conclude, the paper will provide a summary of all research, and how future researchers can further the ideas in this paper to arrive at a better reasoned conclusion.
Article Details
Unique Paper ID: 163355 Publication Volume & Issue: Volume 10, Issue 11 Page(s): 1595 - 1601
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