Modi urges States to take advantage of PLI schemes to attract maximum investment
Prime Minister Narendra ModiFile photo

Modi urges States to take advantage of PLI schemes to attract maximum investment

New Delhi, February 20, 2021

Prime Minister Narendra Modi today urged the states to take advantage of the Production-Linked Incentive (PLI) schemes, introduced by the Centre for various sectors, to attract the maximum investment.

In his opening remarks at the 6th Governing Council Meeting of NITI Aayog through video conference, Modi said the PLI schemes provided an excellent opportunity to increase manufacturing in the country.

He urged the states to take full advantage of this scheme and attract the maximum investment in themselves and also reap the benefits of reduced corporate tax rates.

"The basis of the country's progress is cooperative federalism. This meeting is to brainstorm ways in which to make it more meaningful and move towards competitive cooperative federalism. The whole country succeeded when the state and the central government worked together during the coronavirus pandemic. The agenda points for today’s meeting were selected keeping in mind the highest priorities of the country," he added.

“The positive response received on this year's budget has expressed the mood of the nation. The country has made up its mind, wants to move fast and does not want to waste time,” Modi said.

“The private sector is coming forward with more enthusiasm for this development journey of the country. As a government, we also have to honour this enthusiasm, the energy of the private sector and give it as much opportunity in the ‘AatmaNirbhar Bharat’ (Self-Reliant India) campaign. This campaign is the way to develop an India that produces not only for its own needs but also for the world,” he said.

The Prime Minister said that, keeping in mind the aspirations of a young country like India, modern infrastructure needed to be built. Innovation should be encouraged and increased use of technology made to provide better opportunities for education and skills.

He stressed the need for strengthening businesses, MSMEs and start-ups. Shortlisting the products of hundreds of districts of the country according to their speciality promoted them and also led to healthy competition among the states. This should be taken up block-wise to make full use of the resources of the states and increase the exports. He stressed the importance of better coordination and policy framework between the centre and the states.

On the funds allocated for infrastructure in the 2021-22 Budget, Modi said it would help the economy to advance on many levels. He stressed the importance of making the states self-reliant and giving momentum to development in their budget.

He announced that there would be a major increase in the economic resources of local bodies in the 15th Finance Commission. Along with the use of technology, public participation was also very important in the Local Governance reforms.

The Prime Minister said about Rs 65,000 crore were spent on the import of edible oils which should have gone to domestic farmers. Similarly, there were many agricultural products, which were not only produced for the country but could also be exported. For this, all states needed to formulate their agro-climatic regional planning strategy.

A holistic approach has been adopted over the years, from agriculture to animal husbandry and fisheries. As a result, the country's agricultural exports had increased significantly even during the COVID-19 pandemic period.

Modi urged the states to focus on the storage and processing of agricultural products to reduce wastage. He stressed the need to export processed foods to increase profits.

“Reforms are very important for our farmers to get the necessary economic resources, better infrastructure and modern technology,” he added.

The recent reforms in Other Service Providers (OSP) regulations gave the youth the flexibility to work from anywhere and the tech sector has benefited immensely. Many of the restrictions have been eliminated. Similarly, the use of geospatial data was liberalized recently. This step would help startups and the tech sector and also improve the ease of living for the common man.

Modi said the campaign to provide a "pucca" roof to every poor citizen was in progress. Since 2014, construction of more than 2.40 crore houses was completed in both cities and villages. More than 3.5 lakh rural houses were provided with piped drinking water within 18 months of the launch of the Jal Jeevan mission.

“The Bharat Net Scheme for Internet Connectivity in Villages was becoming a medium for a big change. When the central and state governments work together in all such schemes, the speed of work will also increase and the benefits would also reach the last person,” he added.

NNN

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