Modi stresses on lesser govt intervention in business

New Delhi, March 5 (SocialNews.XYZ) Stressing on the need for lesser government intervention and ease of doing business, Prime Minister Narendra Modi on Friday said the Centre was of the view that the government interventions into businesses tend to create more problems rather than bring solutions.

Speaking at a webinar on production-linked incentive (PLI) schemes, Modi said that with its view of ease of doing business, the government has been stressing on self-regulation, self-attesting and self-certification.

Stressing that both government policies and strategy are clear in terms of the manufacturing sector, he said that its motto is minimum government and maximum governance.

Modi also said that the manufacturing sector should focus on the quality of products and adopt the motto of "zero effect, zero defect".

He also said that PLI schemes for certain sectors do not end up just supporting those very sectors but also help in the growth of the entire ecosystem related to those sectors.

"The benefit provided to advanced cell batteries, solar PV modules and speciality steel will modernise the country's energy sector and in the same way the benefits for textile and food processing sector will support the agriculture sector," he said.

Modi was of the view that the PLI schemes for auto and pharma sectors will also lower the import dependence for the raw materials of auto parts, medical equipment and medicines.

The Prime Minister also said that the workforce in the sectors under PLI schemes may double in the next five years.

He noted that better manufacturing capabilities also improve employment generation in the country.

Source: IANS