How common man can contribute in making India Self-Reliant

By Prasad Heramb Fadanvis

Although all this may seem new to us, it started as soon as Narendra Modi became the Prime Minister. In his 2014 Independence Day speech, he gave the slogan "Make in India ...". At that time, a replica of a machine lion was made and a logo with the inscription 'Make in India' was made on it. That was the beginning of a truly self-sufficient India.

 

Historical financial package and making most of opportunity

Self-sufficient India ... basically, this idea itself is very exciting. At a time when the world is on the brink of recession, it is difficult to violate the rules of the open market under the Global Trade Agreement, Prime Minister Narendra Modi has shocked everyone by calling for a self-reliant India.

During the same period, the financial contribution of more than 10 percent of the Indian economy to streamline the Indian economy was made by the government. This particular thing will go down in the history of India in golden words. The manner in which the government took care of ordinary Indians is unmatched.

COVID-19 could be considered a calamity wherein the government took care of the entrepreneurs, traders, employees, the common man, and even the lowest strata of society beyond the imagination of the common man. The financial package of Rs 20 lakh crore announced by the central government came as a jolt to many.

It is indeed not fun to give a package of this amount. Its far-reaching consequences will be on the strength of the government, the financial position of the banks, and the economy as a whole. However, the government took this decision because now a new India will be formed; rather it is just the beginning of New India.

Although it is difficult to be self-reliant when there are financial difficulties. The central government has identified five types of pillars for self-reliance. They are as follows.

1. Economy

2. Infrastructure

3. System

4. Vibrant demography

5. Demand and supply

Considering these five pillars, there is still a lot of scope for work in our country. The system of government and administration can be noticed everywhere and the participation of the people is increasing. We are second in terms of population; it is growing tremendously; it is necessary to make strict rules at the government level to curb it. Also, in many areas, we are not self-sufficient, which requires building the necessary systems and distribution networks in the countries.

The journey of self-reliance

There are 5 important steps one can take to begin the process of Self-reliance. Based on that, this plan can be implemented. This is not going to happen in a moment. This requires a long-term plan and strict implementation. All the elements of the society have been included in the 5 pointers through which a self-reliant India will be built. The following are the 5 stages of self-sufficient India.

1. Trade with Micro, Small and Medium Enterprises (Business including MSME)

2. Poor, displaced workers and farmers (Poor including migrant & farmers).

3. Agriculture sector

4. New fora of development (New horizon of growth)

5. Government Reform and Empowerment

The edifice of self-reliant India will depend mostly on the industrial sector and the agricultural sector. The Indian economy is around 3 trillion dollars today. Even today, 60% of employment in our country is through agriculture. However, agriculture is given a secondary place. It is not seen as a business.

The three sectors in GDP are agriculture, services, and manufacturing. At present, the largest contributor to GDP is the service sector at 54.40 percent. This is followed by the manufacturing sector which contributes 29.73 percent. While the highest employment is generated through agriculture, the share of agriculture in GDP is only 15.87 percent.

In order to enrich agriculture, it is necessary to set up agro-based processing industries along with new technologies. Once agriculture is given the status of an industry and farmers become prosperous, it will not take long for India to become self-sufficient.

India is still counted among the developing countries. Our per capita income is just 2,020 dollars. Ordinary people still have to struggle for their survival. While introducing new concepts of development, the government has undertaken initiatives on skills development, infrastructure development, schemes to increase farmers' income, etc.

There is no doubt that this will have a positive effect on the future. A number of reforms will have to be made at the government level. The government is committed to making the process easier and faster. It is clear that this is a new age in India, as the government has come up with its own reform agenda. The government has made a good start to build a self-reliant India. Every Indian should to contribute in this process.

Contribution of Indians

Indigenous technology, indigenous insistence, and self-reliance are three different things, but they are interrelated. Do I buy things made in China because they cost less? This is the time to show the world that I will buy the goods that have been produced in my country. Even if the merchant sells the goods, and if I did not buy them, then he will have to think about selling indigenous commodities that are made in India.

Self-reliant India ... Every Indian needs to come forward to respond to this challenge. We can participate in this ‘Mahayagna’ in the following ways.

1. More savings are needed to strengthen the economy. These savings should not be made in gold or real estate but in the form of banks, posts, bonds, stock markets, or mutual funds.

2. Goods produced in agro-based processing industries should be purchased from farmers or from a Grocery shop near the house.

3. Young people should come forward for their work related to knowledge and technology, do new research, and make India self-reliant.

4. As a citizen, you should pay all your direct and indirect taxes on time, so that government revenue will increase and good deeds will be done.

5. Industries as well as traders should improve the quality of their goods in the international market and help the government to provide foreign currency through exports.

6. Everyone should set a goal of becoming financially prosperous in 10 years by 2030 along with the goal of a self-reliant India. (Concluded)

                                                         (The author is Nagpur-based Financial Advisor and writer. Contact: 9860159002)