What is an indicator of self-reliance?

Question

Question

This question was previously asked in

SSC CPO 2022 Tier-I Official Paper (Held On 10 Nov 2022 Shift 1) [Answer Key]

Answer 1

The correct answer is Avoiding imports of the goods which could be produced in the country.

Key Points

A self-reliant economy is one that does not require any aid, support, interaction or trade with the outside world.
Avoiding imports of the goods which could be produced in the country will utilise the available resources within the country and will lower the burden to borrow from outside the country. Hence it is an indicator of being self-reliant.
An increase in imports of the goods which could be produced in the country will increase the burden of the country to borrow from other countries. Hence it is not an indicator of Self-reliance.
An increase in exports of goods which could not be produced in the country will create an extra burden on the economy of the country. Hence it is not an indicator of Self - reliance.
Avoiding exports of the goods which could be produced in the country will lose the chance of strengthening the economy of the country. Hence it is not an indicator of Self - reliance.

Additional Information

The Atmanirbhar Bharat Abhiyan (meaning self-reliant India scheme) was announced in four tranches by the Union Finance Minister Nirmala Sitharaman in May 2020.
The Prime Minister announced that an Atmanirbhar Bharat or a self-reliant India should stand on the following five pillars
- Economy
- Infrastructure
- 21st-century technology-driven arrangements and system
- Demand
- Vibrant Demography