Centre, states need to work closely to boost economic growth: PM Narendra Modi

Prime Minister Narendra Modi on Saturday made a strong case for repealing archaic laws and making it easier to do business in India, stating that the centre and states need to work closely to boost economic growth.

Addressing the Governing Council meeting of NITI Aayog, the prime minister said that the private sector should be given the full opportunity to become a part of the government's Aatmanirbhar Bharat programme.

"Centre and states should work together for the nation's progress... Government has to respect and give due representation to the private sector for economic progress," Modi said.

He added that the positive response to the Union Budget 2021-22 indicates that the country wants to move forward on the path of development at a greater speed.

The initiatives taken by the government would provide an opportunity for everyone to participate in nation-building to its full potential, he said.

Referring to the farm sector, the prime minister said that efforts should be made to produce agriculture items like edible oil and reduce their imports. "This can be done by guiding farmers," he said, adding that the money spent on imports can go to farmers' accounts.

The PM underlined the need for reducing the compliance burden on people and asked the states to form committees to reduce regulations that are no longer relevant in the wake of technology.

Earlier this week, while addressing the NASSCOMTechnology and Leadership Forum, PM Modi said that Indian startups should not restrict themselves only to valuations, but should rather think about creating an institution that will outlive this century by creating world-class products.

He said that India is not short of ideas, adding that it needs mentors to help turn ideas into reality.

He also encouraged the IT industry to develop solutions for societal good, leveraging the wide optical fibre cable (OFC) network laid across the country.

(Disclaimer: Additional background information has been added to this PTI copy for context)