Financial Daily from THE HINDU group of publications
Tuesday, May 13, 2003
Financial Daily from THE HINDU group of publications Tuesday, May 13, 2003 |
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Industry & Economy
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Economy Kerala's annual Plan fixed at Rs 4,430 cr Our Bureau
NEW DELHI, May 12 THE annual Plan of Kerala for 2003-04 has been fixed at Rs 4,430 crore, which is inclusive of additional Central Assistance of the order of Rs 80 crore. This has been decided at a meeting between the Planning Commission Deputy Chairman Mr K.C. Pant, and the Chief Minister, Mr A.K. Antony here. In his initial remarks, Mr Pant appreciated the commendable demographic and human development indices in the realm of education and health made by the State. Yet, he said, Kerala is yet to break free of "being a high-cost low-investment and low employment economy". Revised outlay for the financial year 2002-03 was lower by 15 per cent from Rs 4,026 crore to Rs 3,425 crore mainly on account of lower realisation of State's own resources. Mr Pant urged the State to ensure better off-take of Accelerated Irrigation Benefit Programme funds to complete ongoing major and medium projections. Stating that steps need to be taken to make Kerala investor-friendly, Mr Pant urged the State Government to focus on proper and suitable infrastructure development to stimulate private sector investments. Briefing the Planning Commission about how his Government took over office at a time when the State was on the verge of financial breakdown, Mr Antony said that his Government was successful in enhancing internal resource mobilisation. He said the Sales tax collection of the State alone went up by around Rs 1,000 crore to Rs 5,375 crore. Mr Antony said that this year's Plan of the State has a unique package called modernising government programme (MGP) for which Rs 513.35 crore was set apart. These initiatives constitute the core of reform agenda designed to enhance Kerala's human development and enable economic development and employment generation in a milieu of good governance. He also referred to his Cabinet approval of a reform plan for the Kerala Water Authority envisaging it to play the role more of a technical support agency and bulk provider of water to large schemes. As a first step 1,050 single village piped water supply schemes would be transferred to village panchayats. The Chief Minister also pointed out that an Infrastructure Bill is under the consideration of the legislature, which would promote private investment in the infrastructure development in the States. He urged the Plan panel to have a re-look at the figures of poverty, particularly rural poverty, arrived at on the basis of NSS data. Till it is validated in a fair manner, the 1993 data might continue to be used for the various purposes of development assistance being doled out by the Centre and the Plan panel, he added. He also reminded the Plan panel of the need for the demand to reduce the loan portion of Central assistance in the wake of the extant fragile fiscal situation obtaining in the State.
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