PM Modi bats for PLI schemes to increase production

New Delhi: Advancing his call of "vocal for local," Prime Minister Narendra Modi on Saturday urged the states to promote the production-linked incentive (PLI) schemes to increase production in the country and cut down dependence on imports.

In his opening remarks at the sixth governing council meeting of NITI Aayog through video conference, he said the states should take full advantage of the scheme to reap the benefits. He pointed out that the PLI scheme offers incentives to boost domestic manufacturing and attract large investments in production of various types of equipment.

He laid stress on the need to strengthen businesses, MSMEs and startups. Modi also stressed the importance of a better coordination and policy framework between the Centre and the states.

On the increase in funds allocation for infrastructure in Budget 2020-21, the Prime Minister said this would help the country's economy advance on many levels. He also urged the states to increase the exports.

He stressed the importance of making the states self-reliant and giving momentum to development in their budget. The PM announced that there would be a major increase in the economic resources of local bodies in the 15th Finance Commission. Modi said along with use of technology public participation is also very important in the Local Governance reforms.

The Prime Minister said India has to spend about Rs 65,000 crore on import of edible oils, which can go to the country’s farmers if they focus on growing the oilseeds.

Similarly, he said, there are many agricultural products, which are not only produced for the country but can also be supplied to the world. For this, it is necessary that all states make their agro-climatic regional planning strategy. He said a holistic approach has been adopted over the years, from agriculture to animal husbandry and fisheries. As a result, the country's agricultural exports have increased significantly even during the coronavirus era.