Misconception that state not attracting investment: CM | mumbai | Hindustan Times
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Misconception that state not attracting investment: CM

Facing criticism from various quarters over the loss of big investments in the state, chief minister Prithviraj Chavan made it a point to attend the function in Pune on Friday where GE India announced that it was investing Rs1,020 crore in the state through its new facility at Chakan. At the event, the CM made every attempt to dispel this perception.

mumbai Updated: Jun 16, 2012 02:23 IST
Yogesh Joshi

Facing criticism from various quarters over the loss of big investments in the state, chief minister Prithviraj Chavan made it a point to attend the function in Pune on Friday where GE India announced that it was investing Rs1,020 crore in the state through its new facility at Chakan. At the event, the CM made every attempt to dispel this perception.

“It is a misconception that the state is not attracting investment. The assessment is not correct,” Chavan said, reading out figures to back his claim.

The company’s proposed manufacturing facility will develop products for the energy sector.

It is expected to generate employment for more than 2,000 people, GE said after signing a Memorandum of Understanding (MoU) with the Maharashtra government on Friday.

Despite having to rush to Delhi for a meeting called by the Congress high command, Chavan spent more than half the day meeting people from the industrial sector.

After signing the MoU, Chavan inspected its manufacturing site and attended the inauguration ceremony. In between, he also met members of the Mahratta Chamber of Commerce and Industries and Agriculture.

Maharashtra has approved 335 projects that add up to investment worth Rs2,76,832 crore under the Mega Project Policy. At least 93 of the 335 projects have begun production, while 253 - with an investment of Rs1.75 lakh crore - will be set up in backward areas, Chavan said.

Chavan’s attempt to use the event as a platform to project the state’s investment successes comes a week after NCP chief Sharad Pawar criticised the Maharashtra leadership. Pawar had said that there was “collapse of the government’s decision-making process” and that the state was losing out on big investments.

While Chavan assured all possible sops for industries that want to invest in the state, he also said the government would not undo the changes brought to the Value Added Tax structure.

Several automobile companies from the Chakan belt have threatened to pull out from the state because of it, and Pawar too has criticised the state for bringing changes into the tax system.

“We amended the law as we felt that some industries were getting a double benefit,” the chief minister said.