Atmanirbhar Package
The government has taken decisive action to contain and mitigate the spread of the virus and to limit the adverse impacts on the citizens. Through various measures, it is helping businesses stay afloat, supporting households, and helping preserve employment. This readiness to act helps boost confidence. Atma-nirbhar Bharat Abhiyaan has made headlines across the globe and has come as part of a major economic relief package to assuage India’s economic predicament amidst the pandemic. Combined with all previous economic stimulus efforts, the total amount of the relief package comes to a whopping Rs. 20 lakh crore. This COVID relief package puts bold reforms at the heart of Modi's stated plan to make India self-reliant so that any other crisis that may emerge in the future could be efficiently tackled. The credit guarantee of 3 lakh crore by the government is intended to help MSMEs that have a 25 crore outstanding loan or less than 100 crore turnover. This provision...