You can make Mod Podge of glue base by following the steps mentioned below:

Take 2 parts of white glue and 1 part of water in a container.

Mix them well.
If you want shiny Mod Podge, simply add some varnish or glitter to the mixture.

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Get Fevicol MR from your near by hardware / crafts store
Mix equal parts of water to it (50-50 mixture). You can also use Camels acrylic
gloss medium instead of water
Shake / stir well until the glue and water form a dilute homogeneous mixture
Use it the way you would use Mod Podge
Apply few layers of clear varnish to protect your work. Fevicol + Water cannot
provide the same kind of protection Mod Podge can