A video conference was held yesterday on the production-based offer scheme. Here is what Prime Minister Modi said:
The government has been actively implementing the Mac in India program for the last 7 years. The manufacturing sector is very important in the economic development of the country. It is also possible to create more jobs through higher production. Developed countries are all countries that have increased production.
India follows a similar approach. It is possible to compete in the international market by producing impeccable products with maximum diligence. We have to work hard to produce products that will compete internationally. The production cost, quality and labor of our products should be better than those of other countries in the international market.
Such attainment can only be achieved by working together for a long time. Our products must be easy-to-use, modern, and affordable.
Budgeting and policy making should not be the sole functions of the state. The development goal can be achieved only with the participation of all the people of the country.
Although we accept the stagnation caused by the corona spread last year, we must take advantage of the new opportunities that have arisen and travel the path of rapid growth. If productivity promotion is given to one sector then its benefit will be available to all sectors. If the automobile sector and the pharma sector in particular are given incentives on a production basis then the dependence on foreigners will decrease.
The energy sector has been further modernized by modern battery. Production-based incentives in the agricultural sector are also benefiting. It has also been extended to the textile and food processing sector.
Previously the incentive for the industry was to subsidize input materials. Now offered on a production basis.
Thus spoke Modi