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India must cut the statutory liquidity ratio (SLR) to boost job-intensive manufacturing, former NITI Aayog chief executive Amitabh Kant said. Kant said the production-linked incentive (PLI) is a short-term solution for the manufacturing sector, but in the long term, "we need to reduce the cost of doing business through measures like cutting the SLR, which can reduce the cost of credit". "Statutory liquidity ratio at 18% is too high for India ... I am a great believer in bringing it down because flow of credit to manufacturing sectors will be the key in the long run," Kant told PTI. Without sharing the ideal level of SLR, the mandatory share of net demand and time liabilities or deposits banks invest in government securities, the retired bureaucrat maintained that the cost of credit and availability of resources will be essential to help the manufacturing sector. SLR was cut to 18 per cent over a few years, but it has remained at that level since then. While it helps the government'
While artificial intelligence (AI) would provide unprecedented impetus to global productivity, the technology could also widen inequalities around the world if not used for the benefit of people, former NITI Aayog CEO Amitabh Kant said on Thursday. "We need a digital public infrastructure (DPI) for AI; the technology must be provided to researchers and startups, used for betterment of society and towards sustainability, and for better inputs for climate research," Kant said in his address at the World Sustainable Development Summit organised by The Energy and Resources Institute (TERI) here. "If this doesn't happen then AI is not fit for purpose," he asserted. The former G20 Sherpa of India also highlighted the immense power requirements of AI -- one of its biggest drawbacks. "AI is an energy guzzler. Today, the technology consumes more energy than the whole of Japan," he said. Research has shown that to train a large language model (which understand and generate human language b
Infrastructure major Larsen & Toubro (L&T) on Wednesday said its board has approved the appointment of former G20 Sherpa and NITI Aayog CEO Amitabh Kant as a non-executive, independent director of the company. Kant has been appointed for a term of five years with effect from Wednesday. "The board of directors of the company at its meeting held today, i.e., October 29, 2025, have approved the... appointment of Amitabh Kant as a non-executive, Independent Director (Additional Director) of the company for a term of 5 years with effect from October 29, 2025, up to and including October 28, 2030, subject to approval of shareholders of the company," Larsen & Toubro said in a filing to the BSE. Last month, IT services company HCL Technologies had announced the appointment Kant as an independent director. In September, IndiGo also appointed him as an additional director on its board after receiving security clearance from the civil aviation ministry. Canadian billionaire Prem ...