Need to look at building economy with local skills: Suresh Prabhu

By: |
Published: May 28, 2020 4:24 PM

The five pillars of Atma Nirbhar Bharat (Self-reliant India) are economy, infrastructure, system, vibrant demography and demand.

Suresh Prabhu, local skills, atma nirbhar bharat, rural India, G20 nations, narendra modi, COVID-19 crisis, Ficci, latest news on suresh prabhuSpeaking at a webinar organised by the Institute of Cost Accountants of India, Prabhu said there is a need to work in a way that people’s needs are adequately taken care of and demand of the world is also catered to.

The country needs to go back to the basics and look at building an economy based on local skills and naturally available resources, Rajya Sabha MP and former Union minister Suresh Prabhu said on Thursday as he emphasised the importance of Atma Nirbhar Bharat.

The five pillars of Atma Nirbhar Bharat (Self-reliant India) are economy, infrastructure, system, vibrant demography and demand.

Speaking at a webinar organised by the Institute of Cost Accountants of India, Prabhu said there is a need to work in a way that people’s needs are adequately taken care of and demand of the world is also catered to.

Noting that each district has unique traditional characteristics, he said that if a proper study and documentation are done to make the districts self sufficient, then it would have a transformative effect on rural India.

“In ancient times, India ws a large economy and its products were sought after. It didn’t produce steel, cement or automobiles at that time but it produced things based on local skills. We again need to go back to the basics,” Prabhu said.

Prabhu is also India’s Sherpa for G20 nations. Speaking at the webinar, BJP National General Secretary Ram Madhav said Prime Minister Narendra Modi gave a categorical call for Atma Nirbhar Bharat amid the COVID-19 pandemic and that the government’s motto has been self reliance for the last six years.

He said India has managed the COVID-19 crisis well compared to many other countries and attributed it to three factors. Prime minister who has taken right decisions at the right time, an efficient administrative machinery and the 1.3 billion people of the country who have shown great unity and discipline in handling the situation, he noted.

Talking about post COVID-19 world, Madhav called upon people all over the country to show greater unity.

Industry body Ficci’s President Sangita Reddy said, “we are in a complex situation” and going forward, there is a need to build an economy that is driven by digitisation, societal collaboration and self reliance.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Shrimp exports to US decline by 58% in May
2SBI chairman Rajnish Kumar’s big remark about India’s economic recovery – here’s what he said
3Customs seizes cigarettes worth over Rs 1.5 crore at New Delhi railway station