The Atmanirbhar Bharat Scheme announced by the Government helps in:

1. Enhancing India's manufacturing capabilities and exports across the industries

2. Incentivizing foreign investments for domestic production

Select the answer using the code given below:

The correct answer is Both 1 and 2.

Key PointsThe Atmanirbhar Bharat Scheme

• The Atmanirbhar Bharat Scheme was announced by the Government of India with the aim of making India a self-reliant nation.
• This scheme encompasses a variety of sectors and industries, focusing on enhancing the manufacturing capabilities and increasing exports.
• The scheme also seeks to attract foreign investments to promote domestic production, thereby reducing dependency on imports.

Analyzing the Statements:

• Statement 1: Enhancing India's manufacturing capabilities and exports across the industries
  • The Atmanirbhar Bharat Scheme is heavily focused on improving the manufacturing sector in India by providing various incentives and support to industries.
  • The scheme aims to boost exports by making Indian products more competitive in the global market.
  • Initiatives under the scheme include financial support, policy reforms, and development of infrastructure to facilitate manufacturing and export activities.
  • Hence, statement 1 is correct.
• Statement 2: Incentivizing foreign investments for domestic production
  • The scheme includes measures to attract foreign direct investment (FDI) in various sectors to enhance domestic production capabilities.
  • It aims to create a conducive environment for foreign investors by simplifying regulations and offering incentives.
  • The goal is to make India a global manufacturing hub by leveraging foreign investments to build and expand domestic production facilities.
  • Hence, statement 2 is correct.

Additional Information

• Atmanirbhar Bharat Abhiyan was announced by Prime Minister Narendra Modi in May 2020, amid the COVID-19 pandemic, to revive the economy and make India self-reliant.
• The scheme is structured around five main pillars: Economy, Infrastructure, System, Vibrant Demography, and Demand.
• Various sectors, including agriculture, MSMEs, defense, and energy, have been targeted for development under this scheme.
• The Production Linked Incentive (PLI) scheme is a part of Atmanirbhar Bharat and aims to incentivize companies to boost production in India.
• Key reforms include changes in labor laws, simplifying business regulations, and enhancing ease of doing business in India.
• The scheme also emphasizes the importance of local manufacturing and the use of indigenous products, encapsulated in the slogan "Vocal for Local".