Patna, (Bihar Times): Believe it or not the corporate India is keen to utilize the untapped resources of the BIMARU states. Only four out of 21 states whose data was collected recently registered positive growth rate in terms of investments planned by corporate India during the third quarter of 2008-09 in comparison to the same period in the previous fiscal. Incidentally Rajasthan with 245% tops the list, Bihar with 100% stands second, Punjab with 41.6% third and UP with 26.8% fourth. Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh are known as BIMARU states. Only Punjab is not in this category. The remaining 17 states witnessed negative growth in investment during the period. Surprisingly, Gujarat, about which so much is being highlighted, is much behind in the list.

“Until third quarter of the previous fiscal, the infrastructure barred state of Bihar was unable to attract corporate investors in any sector. However, with the state government efforts in the development of the state, Indian industrialists are planning to tap the resources in education and IT/ITes sectors with corporates expressing to investment around Rs 304 crore in the region during the third quarter of the current fiscal” says recently released report on investment.

 According to the study ASSOCHAM Investment Metre, October-December 2007-08 and 2008-09: Shifting Investment Destinations, Haryana showed a negative growth of 86.87% during this period. The investment flow to Haryana, as per the study, was just Rs 1,167 crore, down from last year’s Rs 8,891 crore.

Significantly, Himachal Pradesh, which boasts of special concessions to industry, has also shown negative growth at -84% during the same period.

The ASSOCHAM study says that the economic slowdown, credit crunch and declining demand have thwarted investment plans of corporate India as announcements plunged by 75% in the third quarter of 2008-09, compared to the same period in the previous year. The report is based on the data tracked from investments announcements planned by various companies.

Rajasthan has successfully attracted the investors to the region with Rs 11,102 crore worth of projects announced in the third quarter of the current fiscal, compared to Rs 3,210 crore in the same period of the previous fiscal.

The figure of Punjab is Rs 1,027crore in October-December 2008-09, compared to Rs 725 crore in same period of previous fiscal.

Comment

comments...

If you get 90 out of 100 in the first exam and then 89 in the second,  improvement is negative but absolute performance is not poor. On the other hand if you get 10 out of 100 in the first exam and 20 in the second, improvement is big but absolute performance is poor. While reporting numbers, these simple mathematics should be taken care of.
Arun
Arun_Kumar@urmc.rochester.edu