UT Clocks 25pc Growth Rate: L-G

Delivering his customary address, Ajay Kumar Singh says there was a 22.5 per cent rise in per capita income

Published: 09th September 2014 06:17 AM  |   Last Updated: 09th September 2014 06:17 AM   |  A+A-


PUDUCHERRY :  The Union Territory has experienced a economic growth  of  25.59 per cent and a 22.5 per cent rise in per capita income, said Lieutenant Governor Ajay Kumar Singh .

Delivering his customary address in the Legislative Assembly on the opening day of the Budget session on Monday, he said  the Gross State Domestic Product (GSDP) had increased from `16,769 crore in 2012-2013  to `21,061 crore in 2013-2014, while the per capita income had risen  from `1,29,460 (2012-2013) to `1,58,630 (2013-2014).

The government was committed to education for all, better healthcare,  speedy development and the uplift of the downtrodden and work towards a balanced and equitable development of all the four regions in the UT, he added. The Planning Commission allowed an outlay of  `2,400 crore for 2014-2015, as against  `2,000 crore last year, said Singh.

This was granted on account of higher internal resources, pursuing of more Central schemes in the new government and allocation of long- pending funds for Coastal Disaster Risk Reduction Project to the tune of  `188 crore.  The Public Finance Management System (PFMS) has been completed which would facilitate on-line flow of funds from the Central  Ministries to the UT and distribute scheme benefits in a transparent way.

The revenue collection during 2013-2014 was  `1,257 crore and the revenue target for the present financial year 2014-2015 was `1,380 crore, based on the buoyancy in the market.

It was also stated that tourism was an important component in boosting the GDP of the UT and tourist arrivals had increased by nine per cent during  2013. The Ministry of Tourism had also sanctioned `48 crore for development of Arikamedu, Ossudu lake, lighting up of heritage monuments and recreational park around Yanam tower.

The government would give priority to start industries which were energy-efficient, low water-consuming, high-tech and knowledge- based, said Singh. In the previous year, 76 micro, small and medium enterprises units commenced production, employing around 1,000 people at an investment of over `60 crore. It was committed to bring the competitiveness back in the industrial sector which was eroded by the withdrawal of concessions by the Centre.

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