Fall of the Indian economyÂ
Since the rise of liberalization, the Indian economy had encountered new peaks in terms of GDP and growth rate; it had improved its growth parametric indices in many fields. The Indian government recently declared the quarter on quarter results, and the stats are quite shocking; the growth contracted by 23.9 Y-o-Y. In terms of other growing countries, India had shown one of the most unsatisfactory results. But does that mean it is the end?
We all know with a population of almost 1.4 billion and a diversified infrastructural base; nothing is impossible for a country like India.
How and why our economy will revive?
One of the government’s signature initiative is the Aatmanirbhar Bharat Abhiyan.
(Self-reliant India Initiative). The Aatmanirbhar Bharat Abhiyan is a combination of significant policy reforms and necessary monetary measures, which can help small businesses and growing startups that were suppressed and away from the limelight due to this Covid-19 pandemic.
<<<Also Read: Self-reliance vs Globalisation – The aatm nirbhar Bharat Mathematics>>>
For making this AtmaNirbhar Bharat more fruitful; the ruling government announced a mega
package of INR 20 Lakh Crore, almost equal to 10 per cent of our GDP!!!
 This package’s main attraction is the  Pradhan Mantri Garib Kalyan Rojgar Abhiyan,
which focuses on creating jobs in the rural parts of India. Rs. 50,000 crore (INR) had been allotted to this Yojana.
This will compensate for the job losses for migrant labourers who moved back from cities
to their villages during the lockdown. This program is offering 125 days of employment across 116 districts, which were very much impacted by the lockdown.
The targeted states under this initiative are Odisha, Bihar, Madhya Pradesh, Jharkhand, Uttar Pradesh, and Rajasthan.
Other aspects
In addition to the major initiative, the Indian FDI added a feather in the cap. Since 1995 India had maintained its positions as one of the most preferred countries for foreign direct investment.
There are many factors responsible for this massive investment, including a stable government, a large and systemized banking sector, attractive policies, and a vast consumer base.
In a recent speech by our honourable finance minister Smt. Nirmala Sitharaman
“FDI inflows into India have remained robust despite global headwinds. Global Foreign Direct Investment (FDI) flows slid by 13% in 2018, to US$ 1.3 trillion from US$ 1.5 trillion the previous year–—the third consecutive annual decline, according to UNCTAD’s World Investment Report 2019. India’s FDI inflows in 2018-19 remained strong at US$ 64.375 billion, marking a 6% growth over the previous year.”.
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 India’s strategy to promote Public-Private Partnerships is worth appreciating. Recently India FOREX reserves crossed the mark of 500 billion USD making its highest Foreign exchange reserve in Indian history.
Source: ETNOWNEWS
