The Hindu : State's financial situation precarious

Online edition of India's National Newspaper
Friday, May 02, 2003

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Other States - Orissa

State's financial situation precarious

By Our Special Correspondent

NEW DELHI MAY 1. With a precarious financial situation facing the State, Orissa is practically in no position to make any investments for development. Still, a high growth rate of 6.2 per cent per annum has been set for the State during the Tenth Plan period.

The poor financial situation has been brought out in a `State Development Report' released here today by the Deputy Chairman of the Planning Commission, K. C. Pant, and the Orissa Chief Minister, Navin Patnaik.

Despite the dismal scenario, Mr. Patnaik said the roadmap for the State's development as outlined in the report had emphasised on rural poor areas and had called for greater thrust on handloom, textiles, tourism and minerals-based industries to generate more employment. Mr. Pant,said Orissa's coastline placed it in a more advantageous position than many other States but Orissa had not been able to fully tap the under-sea resources.. Moreover, the State was calamity prone, hindering smooth completion of development activities, he added.

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State's financial situation precarious