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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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In Jharkhand Lynching Case, Guilty Would Be Punished: Jayant Sinha

In a picture that has gone viral, the Union Minister could be seen garlanding the convicts in the Ramgarh lynching case in Jharkhand

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Sinha further said that he has full faith in our judiciary
Sinha said that he has full faith in our judiciary. Flickr

After sparking a political storm by welcoming eight men who were convicted in the Ramgarh lynching case in Jharkhand with a garland, Union Minister Jayant Sinha on Saturday said that the Ranchi High Court has suspended the sentence of the accused and released them on bail.

The Union Minister of State for Civil Aviation said on Twitter, “In the Ramgarh case (mob lynching), the Ranchi High Court, which is the first court of appeal, has suspended the sentence of the accused and released them on bail while admitting their case. The case will once again be re-heard.” Sinha further said that he has full faith in our judiciary and that those who are innocent would be spared while the guilty would be appropriately punished.

“I have full faith in our judiciary and rule of law. Unfortunately, irresponsible statements are being made about my actions when all that I am doing is honoring due process of law. Those that are innocent will be spared and guilty will be appropriately punished,” he said.

He added, “I have repeatedly expressed my misgivings about the Fast-Track Court judgement sentencing each accused to life imprisonment. I am pleased that the Hon’ble High Court will hear the matter as a statutory court of appeal to test the correctness of the Fast-Track Court order.” Sinha, who represents the Hazaribagh seat in Lok Sabha, yesterday felicitated eight men convicted for killing a meat trader in Jharkhand last year.

In a picture that has gone viral, the Union Minister could be seen garlanding the convicts in the Ramgarh lynching case in Jharkhand at his residence on the outskirts of Hazaribagh.

A Ramgarh Court had sentenced the 11 accused, in connection with the Alimuddin murder case in Ramgarh district to a lifetime in prison.

lynching-header
lynching header. Flickr

Alimuddin, also known as Asgar Ansari, was intercepted by a mob and beaten to death in June last year over suspicions of transporting beef in his vehicle near Bazartand village. The mob later set the vehicle ablaze.

Also read: New Portfolio: Full List of Union Council of Ministers after Reshuffle

Following the lynching incident, section 144 was imposed in Ramgarh. (IANS)