Definition
Atmanirbhar Bharat
Atmanirbhar Bharat is the government's self-reliant India policy thrust aimed at boosting domestic manufacturing, reducing import dependence and supporting local industry.
Atmanirbhar Bharat is a policy umbrella rather than a single scheme, combining fiscal stimulus, credit guarantees, reforms and incentives like the PLI scheme to make India more self-reliant. Launched prominently during the pandemic, it sought to support businesses while building long-term manufacturing capacity.
Measures under the label spanned MSME credit support, agriculture and labour reforms, tariff calibration to encourage local production, and a push for domestic value addition. The emphasis is on self-reliance through competitiveness and global integration, not autarky.
Related terms
- Fiscal StimulusFiscal stimulus is a temporary increase in government spending or cut in taxes designed to boost demand during an economic slowdown.
- Basic Customs DutyBasic customs duty is the primary tariff levied on imported goods as a percentage of their assessable value, forming the core of India's import tax.
- PLI SchemeThe Production Linked Incentive scheme offers financial incentives to manufacturers based on incremental sales of goods made in India, to boost domestic production.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.