The Hindu Business Line : Punjab annual Plan at Rs 4,000 cr

The Chief Minister of Punjab, Capt. Amarinder Singh (left), with the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, in New Delhi on Tuesday. — Anu Pushkarna

New Delhi , Feb. 14

THE annual Plan of Punjab for the next fiscal year has been pegged at Rs 4,000 crore, inclusive of additional Central assistance of Rs 100 crore for projects of special interest to the State.

At a meeting to determine the Plan size here, the Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, lauded the State's efforts for reviving economic growth and in fostering infrastructure of international standards.

The State was advised to evolve an integrated land use policy for sustainable agriculture. It was felt that further strengthening of planning at district level would catalyse development. Mr Ahluwalia said the national policy on development of infrastructure, including developing dedicated freight corridor and highways would benefit the State and supplement its strategy to encourage industrialisation.

In his presentation to the Plan panel, the State Chief Minister, Captain Amarinder Singh, highlighted the steps taken by his Government to attract investment of Rs 52,000 crore during the last two years, which would generate employment for 10 lakh persons. Nine special economic zones are being set up in the State, which includes one at Amritsar at an estimated cost of Rs 7,270 crore.

He said an investment of Rs 3,500 crore had been received till November 2005 and industrial exports had increased from Rs 4,000 crore in 2001 to Rs 12,000 crore in the current year.

The State was coming out of a difficult financial position with substantial improvement in fiscal indicators.

Revenue deficit has come down from 5.3 per cent of gross State domestic product in 2001-02 to 2.2 per cent this year, while fiscal deficit during the same period has come down to 4.5 per cent from 6.99 per cent.

He said the State Industrial Development Board has planned to promote investment of Rs 2,480 crore next year, which includes 14 build, operate and transfer road projects covering 980 km. Ring road around Ludhiana on BOT basis is also part of the proposal.

All villages in the State would be provided 24 hours domestic power supply by the end of June this year, the Chief Minister said.

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