Aatma Nirbhar Bharat : An Opportunity (Paper)

  • Archana Pandey, Banasthali Vidyapith
  • January 7, 2021

Content :

India is a developing country in Asian continent. It has become the fifth largest fastest growing economy in the world. It is on its way for the growth and development and also working for the same. India starts globalization among the Nations but it has a negative effect on the economy of India. More of the products now imported from the foreign countries. It disturbs the Indian economy and barricades and growth of the native people. During this lock down the importance of own product and faith in nation is increased. The new scheme of Aatmanirbhar Bharat that means self dependent Bharat is inaugurated by the government. On 12 May 2020 the Prime Minister of India Shri Narendra Modi has announced the scheme to enhance the growth of local products and for employment generation in the country for the natives.
Economy is of two types that is open economy and closed economy. In open economy one Nation do import and export with other nations of the world. For instance Russia is providing missiles to the world and import spices from India. In closed economy the trade consists only within the territory of a country among its States For instance in India there is a flow of trade between Maharashtra and Uttar Pradesh etc. Before 1991 India consists of closed economy because after the 200 years rule of British Empire India doesn’t want any other foreign invasion in their country. In 1991 Finance Minister Manmohan Singh has introduced LPG policy which means liberalization, privatization and globalization. In Liberalization the government provide free hand for trading activities and also reduces the tariffs. In privatization many of the public sector has gone to the private sector like now public sector only has 2 sectors in its hand and the rest will goes in the hands of private sector. In the context of globalization country allow for open economy which blouse foreign company to invest in India. There are pros and cons of LPG policy.