In news
Noting the importance of
‘swadeshi alternative’ against imports from countries like China, Union Minister Nitin Gadkari has emphasised on the need of research on the emerging technology like electric vehicles, without compromising the quality and cost of the goods or products.
Few Stats
- MSMEs contributes 30 per cent to India’s GDP, 48 per cent in export and till now, 11 crore jobs have been created by the MSME sector
- In order to make India “atmanirbhar”, the share of the manufacturing sector in the country’s gross domestic product (GDP) needs to be increased to 30 per cent from 22-26 per.
Government's Focus
- The government is focusing on rural industries along with socially and economically backward areas.
- Focus on rural industry for gaining and creating employment potential and growth which is a potential route to the eradication of poverty
- Concentrating on gaon, gareeb, majdoor and kisan is the highest priority of the government
- There is a plan to increase the total turnover of Indian rural industry to Rs 2 lakh crore from current Rs 80 thousand crores in the next two years.
Issue
- RBI (Reserve Bank of India) has got Rs 9 lakh crore deposited by the banks, getting 2 per cent interest.
- Without liquidity, we cannot increase the growth rate and without growth rate, we cannot get capital investment and we cannot increase the employment potential.
- And without employment potential, we cannot eradicate poverty and, without that, we cannot make Atmanirbhar Bharat
The Prime Minister is telling them to use it for the people — finance it to the people.
Source: The Hindu
