Former RBI Governor RaghuRam RajanImage Credit source: Reuters
Raghuram Rajan, former governor of the Reserve Bank of India, has questioned the PLI scheme of the Modi government. Raghuram Rajan says that if this scheme of the government fails then what will the government do. In fact, the Modi government has been continuously promoting this scheme for the past few years. The aim of the government is that the businessmen of the country should get maximum facility of PLI. So that India can fulfill the dream of becoming self-reliant as soon as possible.
Raising the question, former RBI governor Raghuram Rajan has said that the government is taking a risk of huge amount like 1.97 lakh crore under this scheme. What will the government do if this scheme fails? Is there a backup plan prepared for this?
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India cannot become a mobile manufacturer
Targeting the government, Raghuram Rajan has said that the government has launched PLI scheme for many sectors. But there is doubt as to how successful it will be. Especially in the mobile manufacturing segment, it is quite visible. Raising questions through social media, Raghuram Rajan has said that the government should think about how much employment will be generated in the country through the PLI scheme and how. If all this could not be done then what is the way forward.
Government’s focus on mobile segment
To make India self-sufficient in mobile manufacturing, the government had increased the charges on imports in the year 2016. After this, in the year 2020, taking a step forward in this direction, the government announced the PLI scheme in the mobile manufacturing sector. It is the result of the efforts of the government that giants like Apple are now showing interest in India instead of China. But the former RBI governor may not be able to fully believe in the policies of the government.
This is how India is becoming self-sufficient
In today’s era, there are many such sectors where the government is vigorously promoting the PLI scheme. The aim of the government is that India can become self-sufficient in sectors like technology, solar, manufacturing. Apart from mobile, the effect of the government’s efforts has started showing on many other sectors as well.
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