Assuring the industrialists in the state, Saurabh Patel, Minister of State for industries and mines, Government of Gujarat said that the government would look to borrow additional Rs 4,000-5,000 crore during fiscal 2012-13.
Speaking at the interaction titled 'Post State Budget 2012 – 13: Financial Insight', organised by the Gujarat Chapter of Confederation of Indian Industry (CII), Patel said that the state was already in a comfortable position with regards to debt.
On their part, industrialist along with CII saw the budget to be growth oriented and would maintain the growth momentum of the state.
"The outlay for the annual development plan for 2012-13 of Rs 50,990 crore is commendable. The continuing and increased outlays for the development plan have increased the momentum of economic activities in Gujarat. Agriculture growth rate figure touched more than 10 per cent in Gujarat for the last 10 years which is the backbone of Gujarat’s economy. In the past decade, Government has succeeded in providing about 400,000 new electric connections and thereby making farmers equal partners in this journey of agriculture development," said Patel regarding the annual state budget that was presented recently in Gujarat Assembly.
Towards manpower development, the government has made a provision of Rs 130 crore to establish 10 new Industrial Training Institutes (ITI), to construct 50 new buildings for ITIs and upgrade 27 ITIs.
According to Atul Garg, Chairman, CII Gujarat State Council & Chief Operating Officer, InteQ IT Services (India) Pvt. Ltd., the state government has been successful in achieving and maintaining high rate of economic development.
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"State government has been committed to maintain this high economic rate for which, proper financial allotments have been made in the budget so that for the fields having high development capacity and the fields affecting social and infrastructure development, necessary momentum may be obtained. The constant efforts of state government for the overall development of state economy and economic development have nurtured positive feeling of quick development of the state," said Garg.
Moreover, Sugata Sircar, Chairman, CII Gujarat State Panel on Economic Affairs, Finance, Taxation & Legal and Finance Director, Gujarat Gas Co. Ltd. said that the state government has sought to enable industrial growth, infrastructure growth, social development and agricultural development.
However, Patel lamented that in an effort to cater to the lower sections of the society, the state government was not able to offer much for industry which formed "the higher section of the society".