No initiative for industrial growth: CII

Pondicherry March 29. A. Natarajan, Chairman of the Confederation of Indian Industry (Pondicherry), said the Territorial Administration had not come out with any initiatives to foster industrial growth so as to attract more industrial entrepreneurs to set up units in the Union Territory.

Welcoming the announcement of the priority contemplated in the budget for development of infrastructure in the Tenth Five Year Plan and allocation of Rs 142.64 crores for infrastructural development of roads, electricity, transport and port, Mr. Natarajan said this was 35 per cent of the total fund allocations and would generate employment opportunities.Although there was an enhanced allocation of Rs 11.60 crores from Rs 6.43 crores for the tourism sector (an 80 per cent increase), there was no specific and concrete proposals for developing tourism.

He said that the steep increase in power tariff- Rs.2.60 from Rs 2.11 for the first one lakh units and Rs 2.75 from Rs 2.32 for the units above one lakh units- would cause strain to the high tension industrial units.

The CII chairman said that no initiatives had been mentioned in the budget to attract industrial units into Pondicherry.

Recommended for you