11 questions to understand Atmanirbharta

Aatma Nirbhar Bharat Abhiyaan or Self-reliant India Movement aims to achieve economic self-reliance. It is among the largest economic stimulus package announced by a nation around the world.

1. How much economic relief package is announced by Prime Minister Narendra Modi through Aatma Nirbhar Bharat Abhiyaan?

A. Rs 10 lakh crores

B. Rs 15 lakh crores

C. Rs 20 lakh crores

D. Rs 25 lakh crores

Ans. C

Explanation: Prime Minister Narendra Modi announced a relief package of Rs 20 lakh crores to ease the coronavirus distress through Aatma Nirbhar Bharat Abhiyaan. 

2. Aatma Nirbhar Bharat Abhiyaan economic package is how much equivalent to India’s GDP?

A. 7%

B. 8%

C. 9%

D. 10%

Ans. D

Explanation: Prime Minister Narendra Modi announced a special economic package and gave the call for 'Aatma Nirbhar Bharat'. In the package the earlier announcements are combined by the government during COVID-19 crisis and decisions taken by RBI, is to the tune of Rs. 20 lakh crore, which is like almost 10% of India's GDP.

3. On which of the following the Aatma Nirbhar Bharat Abhiyaan package is focused?

A. Labour

B. Land

C. Liquidity and Laws

D. All the above

Ans. D

Explanation: The Aatma Nirbhar Bharat Abhiyaan package focuses on land, labour, liquidity and laws, which will cater to various sections including cottage industry, MEMEs, labourers, middle class, and industries among others.

4. What are the Pillars of Self-Reliant India Movement?

A. Infra-structure

B. Economy

C. Demography

D. All the above

Ans. D

Explanation: There are 5 pillars of Self-Reliant India Movement. They are; Economy (Quantum jumps, not incremental changes), Infra-structure (One that represents modern India), System (Technology-driven), Demography (Vibrant demography of the largest democracy) and Demand (Full utilisation of the power of demand and supply).

5. For the FY 2020-21, how much reduction in Rates of 'Tax Deduction at Source' and 'Tax Collected at Source" is announced under Aatma Nirbhar Bharat Abhiyaan?

A. 20%

B. 21%

C. 23%

D. 25%

Ans. D

Explanation: The TDS rates for all non-salaried payment to residents, and tax collected at source rate are going to be reduced by 25 per cent of the required rates for the remaining period of FY 2020-21.

6. Relief to Contractors given by extension of up to how many months for completion of contractual obligations, including in respect of EPC and concession agreements?

A. 3 months

B. 5 months

C. 6 months

D. 7 months

Ans. C

Explanation: Under the 'Relief to Contractors' all central agencies like Railways, Ministry of Road Transport and Highways and CPWD will provide an extension of up to six months for completion of contractual obligations, including in respect of EPC and concession agreements.

7. How much Emergency Working Capital Facility for Businesses, including MSMEs is announced?

A. Rs 2 lakh crores

B. Rs 3 lakh crores

C. Rs 4 lakh crores

D. None of the above

Ans. B

Explanation: The Government of India providing total liquidity of Rs. 3 lakh crores for Emergency Working Capital Facility for Businesses including MSMEs.

8. For up to how many Rupees will there be in 'No Global tenders for Government tenders'?

A. Rs 100 crores

B. Rs 150 crores

C. Rs 200 crores

D. Rs 250 crores

Ans. C

Explanation: Up to Rs 200 crores will be provided for No Global tenders for Government tenders. General Financial Rules (GFR) of the Government are going to be amended to disallow global tender enquiries in the procurement of Products and Services of the value of less than Rs 200 crores.

9. How much Special Liquidity Scheme is announced by the Government for NBFC/HFC/MFIs?

A. Rs. 20,000 crores

B. Rs 25,000 crores

C. Rs 30,000 crores

D. Rs 35,000 crores

Ans. C

Explanation: Government announced Rs 30,000 crores for Special Liquidity Scheme, liquidity being provided by RBI for NBFC/HFC/MFIs.

10. How much Liquidity will be infused by the Power Finance Corporation and Rural Electrification Corporation for DISCOMs under the Abhiyaan?

A. Rs 70,000 crores

B. Rs 78,000 crores

C. Rs 85,000 crores

D. Rs 90,000 crores

Ans. D

Explanation: Power Finance Corporation and Rural Electrification Corporation will infuse liquidity in the DISCOMs to the extent of Rs 90,000 crores in two equal instalments. This amount is going to be used by DISCOMs to pay their dues to Transmission and Generation companies.

11. How much statutory PF contribution of both employer and employee is reduced under the Aatma Nirbhar Bharat Abhiyaan?

A. 9%

B. 10%

C. 11%

D. 12%

Ans. B

Explanation: Statutory PF contribution of reduced to 10% each from the prevailing 12% each for all establishments covered by EPFO for the subsequent 3 months.

These are the questions and answers with an explanation based on the Aatma Nirbhar Bharat Abhiyaan economic packages announced by the Government to fight against COVID-19.