PLI could raise production by $520 bn in 5 years: PM
Pant’s splendid ton puts England under the pump
Delhi,
Prime Minister Narendra Modi on Friday said production-linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years.
Addressing a webinar on the PLI scheme, organised by the Department of Industry and International Trade and Niti Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing.
In this year's budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said.
He added that there is also an expectation that the current workforce in the sectors which will avail of the PLI scheme
March
benefits will be doubled and job creation will also increase.
The Prime Minister said the government is working to reduce compliance burden, further improve ease of doing business and cut down logistics costs for the industry.
"An average of 5 per cent of production is given as incentive. This means that PLI schemes will lead to production worth $520 billion in India in the next five years," he said.
Modi said that over the past six-seven years, several successful efforts have been made to encourage 'Make in India' at different levels.
He stressed on the need to take a big leap, as well as increase the speed and scale to boost manufacturing as it would increase employment generation in the country.
The Prime Minister said the government is working at every level to promote the industry through measures like ease of doing business, reducing the compliance burden, creating multi-modal infrastructure to reduce logistics costs, and constructing district-level export hubs.
"Our effort is to reduce over 6,000 compliance burden (for industry)," he said.
The government, he said, believes that its interference in everything creates more problems than solutions and "therefore, self-regulation, selfattesting, self-certification are being emphasised".
"We have to attract cutting-edge technology and maximum investment in the sectors related to our core competency," he added.
Ahmedabad, March 5: Rishabh Pant changed his game-plan and in turn India’s fortunes with a magnificent century, helping the side snatch control from England’s grip to finish the second day at a robust 294 for 7 in the final Test here on Friday.
England dominated the first two sessions and India looked in all sorts of trouble before Pant (101 off 118 balls) suddenly decided to catch the opposition by the scruff of their necks, effortlessly changing gears in company of Washington Sundar (60, 117 balls, 8x4).
The duo added 113 runs in 26 overs but more importantly, landed an exquisite ‘left-hook’ on England’s hopes of turning party-poopers, having already conceded a first innings lead of 89 runs.
At stumps, Washington was still at the crease with Axar Patel (11).
For someone, who has always been panned for his lack of game awareness, it was Pant 2.0 at play where he defended when it was necessary but unlocked his brutal attacking instincts when required.
The first 50 came off 82 balls and the next off 33 balls with Washington being the ideal foil, holding one end well en route to his half century.
Just like playing a single spinner in the third Test was a blunder, England paid the price for playing a bowler short as their main four got tired during the final session.
Pant deposited Dom Bess into the ‘cow corner’ of the stands against the turn, to complete his third Test hundred, first at home, having missed at least five in recent years.
When he finally got out, Root’s frustrated expression was a dead giveaway that the match was now out of hand for England.
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