The Hindu : New Delhi News : Good news on the economy front, says Jakhar

Online edition of India's National Newspaper
Tuesday, Feb 08, 2005

New Delhi

New Delhi

Good news on the economy front, says Jakhar

By Our Staff Correspondent

BHOPAL, FEB. 7. The Madhya Pradesh Governor, Balram Jakhar, today said that the Bharatiya Janata Party-led Government in the State had taken concrete steps towards infrastructure development and improving the State's economy, which was in a shambles when the present Government came to power in December 2003.

Addressing the Assembly on the opening day of the budget session, he said the State's revenue deficit in 2003-04 had gone up to Rs. 475 crores due to reckless spending. "The State Government had brought the situation under control by cutting down wasteful expenditure. The revenue deficit is now expected to come down. Due to better fiscal management, the Government did not resort to over-draft even for a single day during the present financial year," he said amid thumping of desk by the treasury benches.

The Governor said that for 2005-06, the Planning Commission had approved an annual Plan outlay of Rs. 7471 crores without slashing the Government's proposal. "The State is moving ahead in its endeavour to catch up with the other advanced industrial States by focusing attention on infrastructure development, creation of more employment opportunities, revival of sick industries and better utilisation of local resources. The industrial climate in the State is now attracting investors. After the new industrial policy was announced, proposals have been received for thousands of crores worth of investments."

Dr. Jakhar said roads had been neglected for the last many years. Due to the poor condition of roads, there has been lot of unrest. "Roads are now a top priority of the State Government," he said, adding that 410 km of national highways had been improved in the State during the current fiscal. By the end of March this year, another 200 km of national highways would be improved. Hundreds of kilometers of roads across the State are also targeted to be built through the Rs. 337 crore Central Road Fund (2083 km), Rs. 648 crore Mandi fund (5833 km), Rs. 628 crore Nabard Scheme (7096 km), Rs. 307 crore fast track scheme (7387 km), Rs. 950 crore Bond-BOT scheme (2017 km), and Prime Minister's Rural Road scheme.

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