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Need to look at cost of doing biz to up manufacturing: Amitabh Kant
India must cut the statutory liquidity ratio (SLR) to boost job-intensive manufacturing, former NITI Aayog chief executive Amitabh Kant said. Kant said the production-linked incentive (PLI) is a short-term solution for the manufacturing sector, but in the long term, "we need to reduce the cost of doing business through measures like cutting the SLR, which can reduce the cost of credit". "Statutory liquidity ratio at 18% is too high for India ... I am a great believer in bringing it down because…
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