Prime Minister Narendra Modi on Monday interacted with CEOs of corporations from numerous sectors of business within the second such interplay with business representatives within the run-up to the subsequent yr’s Union Finances, in accordance with his workplace.
“Identical to the nation aspires for a podium end on the Olympics, the nation additionally desires to see our industries among the many prime 5 of the world in each sector, and that is one thing for which we must always collectively work in direction of,” PM Modi stated, in accordance with the Prime Minister’s Workplace (PMO).
PM Modi assured India Inc that the federal government would give attention to decreasing the compliance burden whereas exhorting the highest corporations to make full use of the production-linked incentive (PLI) scheme as he sought recommendations on areas the place undue compliances have to be eliminated.
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The Prime Minister stated in the course of the pre-budget deliberations with company leaders the federal government is absolutely dedicated to taking initiatives with a view to present impetus to the financial progress of the nation.
“He stated that the company sector ought to make investments extra in areas like agriculture and meals processing, and talked in regards to the shifting give attention to pure farming. He underlined the coverage consistency of the federal government, and stated that the federal government is firmly dedicated to take initiatives which is able to give impetus to financial progress of the nation,” PM Modi stated, in accordance with the PMO assertion.
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The business representatives gave their suggestions to the Prime Minister and thanked him for placing his religion within the non-public sector. “They expressed dedication in direction of contributing to the Aatmanirbhar Bharat imaginative and prescient of the Prime Minister, and praised a number of steps taken by the federal government like PM GatiShakti, IBC and so forth,” the PMO assertion added.
In addition they spoke about steps that may be taken to additional increase ease of doing enterprise within the nation in addition to India’s commitments at COP26 and the way industries might contribute in direction of reaching the outlined objectives.
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This was one of many many interactions held by PM Modi forward of the funds to obtain inputs and recommendations from the non-public sector. Final week, he met with main non-public fairness and enterprise capital gamers to hunt recommendations on making India a extra engaging funding vacation spot.
Finance minister Nirmala Sitharaman will current the Union Finances on February 1, 2022, for the subsequent fiscal yr that begins on April 1, 2022.