NEW DELHI, 21 February, 2021, (TON): Indian 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 Indian PM Modi said that the private sector should be given 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 said that the positive response to the Union Budget 2021-22 indicates that the country wants to move forward on the path of development at greater speed. 

Modi said that the initiatives taken by the government would provide an opportunity for everyone to participate in nation-building to its full potential. 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 the money being spend on imports can go to the accounts of farmers.  

The Prime Minister also 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. 

India needs to increase its rate of employment growth and create 90 million non-farm jobs between 2023 and 2030's, for productivity and economic growth according to McKinsey Global Institute. Net employment rate needs to grow by 1.5% per year from 2023 to 2030 to achieve 8-8.5% GDP growth between 2023 and 2030. 

The coronavirus has already pushed the Indian economy into a deep contraction. An ongoing farmers' protest against new agricultural laws threatens to exacerbate the economic malaise. 

India’s farmers have been protesting since the autumn, with a growing intensity that culminated in a violent breaching of barriers after the government of India gave three new controversial farm laws aimed at liberalizing farming sector.