Prime Minister Narendra Modi on Monday interacted with CEOs of companies from various sectors of industry in the second such interaction with industry representatives in the run-up to the next year’s Union Budget, according to his office.
“Just like the country aspires for a podium finish at the Olympics, the country also wants to see our industries among the top five of the world in every sector, and this is something for which we should collectively work towards,” PM Modi said, according to the Prime Minister’s Office (PMO).
PM Modi assured India Inc that the government would focus on reducing the compliance burden while exhorting the top companies to make full use of the production-linked incentive (PLI) scheme as he sought suggestions on areas where undue compliances need to be removed.
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The Prime Minister said during the pre-budget deliberations with corporate leaders the government is fully committed to taking initiatives with a view to give impetus to the economic progress of the country.
“He said that the corporate sector should invest more in areas like agriculture and food processing, and talked about the shifting focus on natural farming. He underlined the policy consistency of the government, and said that the government is firmly committed to take initiatives which will give impetus to economic progress of the country,” PM Modi said, according to the PMO statement.
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The industry representatives gave their feedback to the Prime Minister and thanked him for putting his faith in the private sector. “They expressed commitment towards contributing to the Aatmanirbhar Bharat vision of the Prime Minister, and praised several steps taken by the government like PM GatiShakti, IBC etc,” the PMO statement added.
They also spoke about steps that can be taken to further boost ease of doing business in the country as well as India’s commitments at COP26 and how industries could contribute towards achieving the outlined goals.
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This was one of the many interactions held by PM Modi ahead of the budget to receive inputs and suggestions from the private sector. Last week, he met with leading private equity and venture capital players to seek suggestions on making India a more attractive investment destination.
Finance minister Nirmala Sitharaman will present the Union Budget on February 1, 2022, for the next fiscal year that starts on April 1, 2022.
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