Revive manufacturing but be selective about discouraging imports, say experts at the first Mint Budget 2021 panel discussion on Atmanirbhar Bharat
The government could devise ways to revive domestic manufacturing and support infrastructure creation in the upcoming Union Budget for FY22, but ought to be selective and strategic in discouraging imports in favour of locally-produced goods, experts said at the first Mint Budget 2021 live panel discussion on Atmanirbhar Bharat.
Experts also said the execution of the production-linked incentive scheme to promote manufacturing and financial backing will be crucial in its success.
Ajit Ranade, chief economist, Aditya Birla Group, said exports need to grow considerably if the government plans to scale up manufacturing to reach up to 25% of gross domestic product (GDP) in the next 5-8 years, from the existing 17%.
Source: livemint
