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Investment declined in Jharkhand: Assocham

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Ranchi: Investors’ confidence in Jharkhand has been shaken over the years, according to a study released by Associated Chambers of Commerce and Industry of India (Assocham) on Saturday.

The study said: “As of 2014-15 Jharkhand attracted total outstanding investments worth Rs.6.4 lakh crore with manufacturing sector garnering lion’s share of about 52 percent followed by electricity (37 percent) and mining (six percent).”

“New investments attracted by Jharkhand each year have declined sharply from over Rs.1 lakh crore in 2005-06 to Rs.33,000 crore in 2014-15.”

Besides, the state’s share in new investments attracted by various sectors across India has declined from about 15 percent in 2005-06 to just three percent in 2014-15, said the study ‘Delay in investment implementation in Jharkhand: An analysis’.

“Besides, Jharkhand’s contribution to India’s GDP during the period 2004-05 to 2013-14 has also dropped from two percent in 2004-05 to 1.9 percent in 2013-14 thereby showcasing the sluggish economic growth in the state,” said the study prepared by the Assocham Economic Research Bureau.

“Delay in land acquisition, lack of clearances (both environment and non-environment), fund constraints, poor promoter interest, unfavourable market conditions, dearth of skilled labour, poor supply of fuel/feedstock/raw material, law and order problems are certain key factors that have resulted in serious cost overruns,” said Assocham secretary D.S. Rawat.

Mineral-rich Jharkhand is grappling with a depressing state of industrial growth evidently as the state ranked has on the last rung amid top 20 states across India with a meagre 1.2 percent compounded annual growth rate registered by the state in this sector during 2004-05 and 2013-14, the study added.

(IANS)

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‘Black’ Banned in Jharkhand’s Palamau Ahead of Modi Visit

He will also lay the foundation stone of a pipeline to meet the needs of drinking water and irrigation in Palamu and Garhwa districts at a cost of Rs 1,138 crore

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Mahathir, who governed Malaysia for more than two decades, became, at the age of 92,
Congress cheating farmers in name of loan waivers. Wikimedia

When Prime Minister Narendra Modi visits Palamau in Jharkhand on January 5, one colour will not be permitted in any form: black.

The Palamau administration issued the ban order after leaders of the 80,000 para teachers on strike since November 15 demanding regularization of their service vowed to show black flags to Modi in Palamau.

“The government staff or common people cannot wear black socks,” an official said. “The ban also covers clothes, bags, shoes, purses and caps.”

Narendra Modi
Narendra Modi (Wikimedia Commons)

Modi is scheduled to arrive in Palamau at 10.30 a.m. to spend an hour in the district.

The Prime Minister will lay the foundation stone of the Mandal dam irrigation project, which was pending since 1972. The dam will be built at a cost of Rs 2,500 crore.

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He will also lay the foundation stone of a pipeline to meet the needs of drinking water and irrigation in Palamu and Garhwa districts at a cost of Rs 1,138 crore. (IANS)