IPB a ploy to raise funds for Goa Assembly polls: Naik

Congress's Rajya Sabha member Shantaram Naik today alleged the Investment Promotion Board (IPB) of Goa would be a "special purpose vehicle to generate election funds for BJP".
IPB is headed by the Chief Minister Laxmikant Parsekar.
"Goa Investment Promotion Board is going to be one of the biggest frauds on the state and its people. It is going to be a special purpose vehicle to generate election funds for BJP," Naik said at a press conference.
IPB's functioning lacks "transparency" which was evident from the fact that its website did not list the projects approved by it, he alleged.
"The Board is more interested in underhanded dealings than clear and transparent dealings," the MP alleged.

Accordingly, Naik said the company has "identified select

growth businesses in L&T's broad portfolio. These include IT, technology services, defence, smart world and water management.
"Our strategic plan involves re-allocation of resources - both talent and capital - to businesses with visible value creation potential. As most of these are also asset-light businesses, the initiative will be in line with our larger objective of building an asset-light organisation".
He also said this growth will be a technology-driven leadership drive and the mission is profitable growth through technology leadership.
"Since 2000, we have developed and rigorously implemented a five-year strategic planning process. We are now in the fourth wave of this programme," he said, adding that to achieve the set objectives, the company has partnered with two global strategic consultancies.

Naik, who will turn 75 in 2017, has pledged nearly 75 per cent of his wealth for philanthropy.
"I was motivated by my grandfather and father to give back something to the society. In 1995, I donated Rs 4 lakh for constructing one floor to a hospital in my village. I am also building a CBSE school and a hospital close to L&T's Powai campus," he said.
Apart from this, Naik is also keen on developing a vedic school.
"I keep donating to marriage halls, thread ceremony halls, etc. I want to promote Vedic education and I've already donated for a school which is coming up in an ashram in Gujarat for the purpose," he added.

He already runs two charitable trusts - The Naik Charitable Trusts for Education & Skill Training and the Nirali Memorial Medical Trust, named after his granddaugther, who died of cancer in 2007.