STOCK MARKET BSE NSE

Plan outlay fixed at Rs 2,000 crore

The annual plan outlay for the Union Territory of Puducherry for 2013-2014 has been finalised at Rs 2,000 crore by the Planning Commission on Thursday.

Published: 28th June 2013 11:18 AM  |   Last Updated: 28th June 2013 11:18 AM   |  A+A-

Chief-Minister-N-Rangasamy-

The annual plan outlay for the Union Territory of Puducherry for 2013-2014 has been finalised at Rs 2,000 crore by the Planning Commission on Thursday. The outlay includes Central assistance of about Rs 783 crore, according to information from Press Information Bureau (PIB).

In addition, about Rs 100 crore is likely to flow from the Centre to Puducherry through various Centrally-sponsored schemes.

Plan funding from the Central Government to the State of Puducherry, from all sources, is expected to be over  Rs 883 crore during 2013-14. The remaining 1,117 crore would be met from the UT’s internal resources and negotiated loans.

This plan size was finalised at a meeting  between Deputy Chairman of Planning Commission Montek Singh Ahluwalia and Chief Minister of Puducherry N Rangasamy.

Briefing the Commission on plan performance, Rangasamy said efforts to improve fiscal position continue and during the current fiscal both tax and non-tax revenue is expected to grow by 24 per cent. He said new initiative proposed for the year include around 20 projects in Private Public Partnership ( PPP ) mode estimated at a cost of nearly Rs 2,000 crore, renewable energy project and renewed thrust to encourage both domestic and international tourism.

The Chief Minister said new industrial policy has been approved by the Cabinet, which is expected to further incentivise investment in the UT.

Ahluwalia said that the Union Territory has been achieving satisfactory progress and development strategy was in right track. He said good progress has been achieved in health and education sectors.

However, the UT needs to focus on finding new avenues of revenue generation to meet future demands. Tourism and infrastructure are the areas which need special attention of the government. Public- private partnership in these sectors has to be encouraged and necessary steps taken to facilitate private partnership, he said.

Further he said that Puducherry Industrial Development and Investment Corporation (PIPDIC) should initiate skill development mission in Puducherry.

Ahluwalia said adequate investment in the development of infrastructure is a prerequisite for higher growth. While complementing the government for encouraging PPP in development of social and physical infrastructure, he said efforts should continue to create an enabling environment to promote investment in infrastructure.

Ahluwalia said the UT continues to perform better in all the development indicators and remain in higher position compared to the corresponding all-India average.

Puducherry’s strengths are higher with per capita income (`81,469), higher GSDP growth rate of 9.0 per cent during 11th Plan) higher literacy level (86.55 per cent), lower BPL population (1.2 per cent) and availability of adequate health infrastructure.

The administration requires to redouble its efforts in the Twelfth Five Year Plan to achieve the targets and for accomplishing the goal, more inclusive and sustainable growth.

During 11th Five Year Plan the average growth rate of industry sector in Puducherry has been 8.7 per cent which is higher than the corresponding all-India figure of 7.2 per cent.

However, more emphasis should be given to industry since the percentage share of this sector in Gross State Domestic Product has declined from 50.2 per cent in 2004-05 to 48.5 per cent in 2011-12.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp