Capital investment claim unrealistic: Opposition

THE CONGRESS today criticised the BJP Government in the Assembly for making ?unrealistic? claim about capital investment for setting up new industries in Madhya Pradesh.

india Updated: Mar 07, 2006 12:52 IST

THE CONGRESS today criticised the BJP Government in the Assembly for making ‘unrealistic’ claim about capital investment for setting up new industries in Madhya Pradesh.

Participating in the more than Rs 580 crore budgetary demands of Commerce, Industries and Bhopal Gas Tragedy Relief departments, Congress member Rajendra Kumar Singh said the BJP Government was making tall claims about spurt in capital investment during the last two years but in reality not much investment was made as industries for which memoranda of understanding (MOU) had been signed were yet to take shape.

Singh said Commerce and Industries Minister Babulal Gaur was claiming that the State received proposals for investment of over Rs 50,000 crore. Majority of the proposals were yet to take off and the government claim was misleading.

Many industries like textile mills and power looms had gone sick rendering several thousand people jobless, he added. The Congress member contested the government claim that there was no overdraft in the last two years saying there was no overdraft on any states due to the revised guidelines of the Reserve Bank of India.

Finance Minister Raghavji joined him clarifying that the State did not avail the increased ways and means advance limit also. Singh said notifications relating to the new industrial policy

First Published: Mar 07, 2006 12:52 IST