After lagging behind Gujarat in overall investment, the Prithviraj Chavan-led government is gearing up to lure investors to the state.
After lagging behind Gujarat in overall investment, the Prithviraj Chavan-led government is gearing up to lure investors to the state.
Sources in the industry department revealed to DNA, “The new industrial policy, which is being fine-tuned by chief minister Prithviraj Chavan and industries minister Narayan Rane, is aimed at creating an investment-friendly climate in the state.”
Sources indicated that Rane has been emphasising on promoting small and medium- scale sectors to create greater job opportunities. The biggest hurdle in the policy making is the ambiguity over the special economic zones (SEZs), which proved a failure in promoting investment and employment. There is a dilemma over whether the SEZs should become the part of the overall state industrial policy or kept aside as special projects.
What has set the government worried is the decline in the investments in state. The figures for (1991-2011) shows Maharashtra has a total investment of Rs8,74,053 crore. The employment generated through them is not exceeding 43.4 lakh.
Whereas, during the same period (1999-2011), Gujarat has tapped total investment of Rs 10,39,508 crore generating jobs for 29.2 lakh. The comparative figures show Gujarat has bagged 5,899 projects, which was lesser than Maharashtra. But, Gujarat has clearly overtaken Maharashtra by Rs 1,65,455 in terms of total industrial investment.
Sources in the government said, “The dismal performance of the state in investment and employment generation is an outcome of wrong industrial policies pursued between 1999 and 2011.”
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