Chief minister Raghubar Das on Thursday claimed that in the last two years his government has set the development ball rolling and now Jharkhand has positives to its credit including a land bank of about 1.76 lakh hectares (4.38 lakh acres) to offer to investors.
With barely a week to go for the maiden global investors summit in Ranchi, Das spoke extensively about the investment prospects in Jharkhand and the government’s commitment to work to bring all investment proposals to fruition.
“In the initial 14 years of its inception, the state was only encashing royalties from its mineral resources with hardly any real development. This was because, the state lacked a pragmatic policy to exploit its resources,” Das said.
“We have formulated investor friendly policies in key sectors like single-window system and simplified the existing rules and regulations, including labour laws and others. We have also created land banks. We also launched an image building exercise by organizing various road shows within and outside the country. Now the stage is set to reap the harvest,” he added, pointing out, “Jharkhand is the fastest growing state with Gross State Domestic Product growth rate of 12.1% in 2015-16 fiscal. The state is ranked fourth after Tripura, Mizoram and Gujarat in terms of GSDP rate,” he added.
Das stressed that Jharkhand, being a plateau region, cannot depend only on agriculture. “We have to open up our economy to global investors citing the state’s requirement of `20,000 crore to set up power transmission lines.”
Revealing his plan, Das said the government has already prepared several detailed project reports and would ink Mo Us only with investors who show serious commitment towards work. Progress on each Mo U would be reviewed every month.
“We hope that work would be soon at the ground level within three months of the MoUs”, he added.