Prime Minister Narendra Modi's Atmanirbhar Bharat campaign has earned huge praises from International Monetary Fund (IMF) Director, Communications Department, Gerry Rice
Bengaluru: Prime Minister Narendra Modi's Atmanirbhar Bharat campaign has earned huge praises from International Monetary Fund (IMF) Director, Communications Department, Gerry Rice. Calling it a very important initiative, he said that the economic package announced under this self-reliant initiative has supported the Indian economy and mitigated significant downside risks. He further said that if India wants to realise its 'Make For The World' mission then the priority should be to remain focused on policies that can help further integrate the country in the global value chain, including through trade, investment and technology.
“The economic package under this self-reliant India initiative, which was announced in the aftermath of the coronavirus shock, has supported the Indian economy and mitigated significant downside risks, so we do see that initiative as having been important.”
Republic TV adds that Gerry Rice as saying that these measures will also aid in India's economic recovery. In order to ensure proper and sustainable growth of the economy, comprehensive structural reforms including land, product market and labour market are required. While answering another question, Rice said that IMF's joint study with NITI Aayog and the ministry of finance reveals that India will have to increase its spending in the healthcare sector to achieve a high performance along with sustainable development goals in the health sector. Currently, India spends 3.7 per cent of the total GDP in the healthcare sector.
Atmanirbhar Bharat of self-reliant India is a dream of Prime Minister Narendra Modi. It refers to the endeavour of making India a great manufacturing hub and playing a key role in global economy, apart from improving its own.
The first announcement of such a dream was announced during a package released, aimed at fighting the COVID-19 pandemic in May. The PM also stressed on ‘Vocal for local’ which means giving a thrust to local production and generation.
The government has also introduced several schemes to industries so that they feel encouraged to generate more income locally.
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Last Updated Sep 27, 2020, 10:37 AM IST