PLP to PLI, reform express at full speed, says PM Modi
Indian Prime Minister Narendra Modi praised the shift from 'production-linked punishment' under previous governments to the current 'production-linked incentive' (PLI) schemes. He emphasized that these reforms are essential for India's economic growth and its goal of becoming a developed nation.
Why it matters
The speech highlights the current administration's economic philosophy and its focus on industrial manufacturing as a pillar for national stability and global influence.
NEW DELHI: PM Narendra Modi said the country has moved from "production-linked punishment" (PLP), where companies were penalised for producing more by the "licence raj govts", to a regime where higher production is incentivised through schemes such as PLI (I for incentive), and vowed to pursue reforms with greater vigour to realise the goal of 'Viksit Bharat'."Our govt will continue working for the youth, women, farmers, the poor and the middle class. Our reform express will move forward at an even greater speed," he said at Economic Times World Leaders Forum on Friday.Amid growing global challenges, PM said, the world was seeing India as a "bright spot", where poverty levels have fallen, and with International Monetary Fund forecasting it as the fastest-growing major economy. A developed India will provide stability to a world ridden with distrust, where resources are being weaponised, he said.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in