You are here: Home » Current Affairs » News » National
Business Standard

Govt must respect, give due representation to pvt sector in progress: PM

PM Modi on Saturday made a strong case for repealing archaic laws and making it easier to do business in India stating that the centre and states need to work closely to boost economic growth

Narendra Modi

Press Trust of India  |  New Delhi 

PM Narendra Modi
PM Narendra Modi

Prime Minister on Saturday made a strong case for repealing archaic laws and making it easier to do business in India, stating that the centre and states need to work closely to boost economic growth.

Addressing the sixth Governing Council meeting of NITI Aayog, the Prime Minister said that the private sector should be given full opportunity to become a part of government's Aatmanirbhar Bharat programme.

"Centre and states should work together for the nation's progress... The government has to respect and give due representation to the private sector for economic progress," Modi said.

He said that the positive response to the Union Budget 2021-22 indicates that the country wants to move forward on the path of development at greater speed.

Modi said that the initiatives taken by the government would provide opportunity to everyone to participate in nation building to its full potential.

Referring to the farm sector, the Prime Minister said that efforts should be made to produce agriculture items like edible oil and reduce their imports.

"This can be done by guiding farmers," he said, adding the money being spend on imports can go to the accounts of farmers," he said.

The prime minister said government policies will help farmers raise productivity and cut imports, adding that reforms needed to provide funds and technology for the farm sector.

The Prime Minister also underlined the need for reducing compliance burden and repealing obsolete laws.

He asked the states to form committees to reduce regulations which are no longer relevant in the wake of technology growth.

Modi said states should attract investment using production-linked incentive (PLI) scheme.

He said the government is spending on infrastructure to boost demand and create jobs.

Further, the Prime Minister noted that bank accounts, free electricity and gas connection and proper vaccinations have brought changes in the lives of the poor.

Stressing on need to strengthen start-ups and MSMEs, Modi said," Aatmanirbhar Bharat is not just to make India self-reliant, but also to meet the world's needs." He also urged states to form committees to celebrate India's 75th Independence Day.

The council of the apex body of NITI Aayog includes all chief ministers, lieutenant governors of Union Territories, several union ministers and senior government officials.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, February 20 2021. 11:49 IST