BENGALURU: The Bharatiya Janata Party on Sunday released its manifesto for the Indian Parliament polls, but the economic component is a kind of “mini-budget”.
The party has pledged that if the Modi government returns to power, it will work to make India a global manufacturing hub for electric vehicles, semiconductors, smartphones, toy exports, and railway, aviation and shipbuilding equipment.
The manifesto said the government will expand the existing Startup India Seed Fund and Startup Credit Guarantee Scheme to help incubate more startups and include more startups in government procurement across sectors. .
“We will ensure that Bharat becomes the third largest economy. We have demonstrated low inflation, high growth and fiscal health over the past decade. We will continue on this path. and remain committed to expanding our economic strength,” the manifesto said.
The economic pledges in the BJP’s manifesto are more sector-specific than the Congress manifesto released earlier this month. The Congress accused the Bharatiya Janata Party of failing to create jobs and focused more on employment-specific measures.
Congress promised job-based incentives and a city jobs guarantee program.
In its manifesto, the central bank feels that its job creation initiatives through the Production-Linked Incentive (PLI), infrastructure investment and focus on services such as technology and tourism are creating and will continue to create jobs. He said there was.
The government plans to make India a hub for high-value services by setting up more Global Capability Centers (GCCs), Global Tech Centers (GTCs) and Global Engineering Centers (GECs). He said that there is.
“We will reduce compliance to improve the ease of life and ease of doing business for small traders and MSMEs. We will work with state governments and encourage the simplification of state laws. He talked about making it easier for small, medium, and micro enterprises to do business. He also said the goods and services tax would be further simplified.
The manifesto also promised to make India a “trusted global manufacturing hub” through a series of plans including simplification of regulatory processes and laws, infrastructure investment and capital availability.
“Based on the principles of Prime Minister Ghatishakti, the government shall aim for balanced regional development and develop industrial cities in various industrial corridors. This will promote industrialization of backward areas of the country,” the manifesto said. It is stated in
The party said the government will focus on the technology and sustainability transition taking place in the steel, cement, metals and engineering products industries, and support these industries to adopt more environmentally friendly manufacturing processes. .
“We intend to deepen our component ecosystem, take semiconductor design and manufacturing to a new level, and become one of the world’s leading chip manufacturers. We will support the growth of the automotive industry and the transition to EV manufacturing. I’ll go,” he said.
(issued April 14, 2024, 23:43 IST)
