In his recent interaction with the Indian citizens, Prime Minister Narendra Modi pitched a slogan ‘AatmaNirbharIndia’ which means our nation has to be self-reliant from now on.
To overcome this critical economical crisis, Modi asked the citizens to encourage local products and more specifically he said that buying local brands and local products will revive the economy to a very great extent.
This theme is widely popular as ‘Vocal for Local’ which has been adopted by China for many years. One of the main reasons China has become a global power is that they have identified their strength of human resources.
They implemented certain plans using all the resources they possess effectively and successfully established many companies locally and created employment for millions of its citizens.
Most appreciably, they took care of the income tax system on a personal level. If we have a look at the gross annual income of the Chinese government, the personal income tax constitutes not more than 7-8%. Whereas, it is a staggering 25% in India.
The majority of the Chinese stay in their country and make a living using their skill set and to be frank, India has failed terribly in this aspect and the talented people are looking elsewhere for more income and recognition.
So, finally, Modi realized the importance of self-reliance during this COVID-19 crisis period,s and let’s hope that this ‘AatmaNirbharIndia’ will be a huge success.