Bangalore: Karnataka's Sluggish Growth Cause for Concern
From Our Special Correspondent
Daijiworld Media Network - Bangalore
Bangalore, Jun 3: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has expressed serious concern at the sluggish economic growth registered by Karnataka during 2011-12.
ASSOCHAM Southern Regional Council Co-Chairman Jacob Crasta felt it was unfortunate that Karnataka and Andhra Pradesh, which had recorded impressive technological progress over last several years, registered growth rates less than India’s GDP growth of 6.5 per cent in 2011-12 as per the latest data released by Union Ministry of Statistic.
In sharp contrast, Crasta said States such as Bihar, Delhi, Puducherry, Chattisgarh and Goa have registered better high growth rates ranging between 10.7 per cent and 13.1 per cent.
A major reason for the fast growth rate registered by states like Bihar and Chattisgarh is the low base of their economies.
Crasta, in a statement released to the press, said that Karnataka’s growth at less than national average was a cause of concern.
He said that states like Gujarat and Tamil Nadu had managed to clock 9 per cent growth rate even when growing on a much larger base.
Crasta stressed the need for giving fresh impetus to manufacturing sector in the State with a view to bring Karnataka among the high growth states.
He called for strengthening of infrastructural base in the State so as to boost the pace of growth.
Crasta expressed hope that the forthcoming Global Investors Meet (GIM) hosted by the State Government would result in several new industrial projects being set up in the State.
However, this would call for sufficient scaling up of infrastructural base and hence the need for fresh impetus to ongoing projects in power, roads and ports sectors.