Chennai:
A weak currency and stagnant growth has hit south Indian
states, which spearheaded the industrial growth and socio-economic development,
according to Tamil Nadu Finance Minister O Paneerselvam.
Delivering the inaugural address during a Financial Sector
Conclave organized by Federation of Indian Chambers of Commerce and Industry
and Hindustan Chamber of Commerce here on Thursday, Paneerselvam assured industrialists
and bankers that Tamil Nadu government is taking all steps to stimulate
economic growth in Tamil Nadu against all odds.
Stating that Tamil Nadu Vision 2023 document envisages an
investment of Rs 15 lakh crore in Tamil Nadu infrastructure, he said only
higher investments in infrastructure and spending by government can counter the
economic slowdown and boost private sector investments.
Urging the private sector to participate in state’s growth
story, he said, “In this difficult economic situation, I look forward to
sustained funding from banks to industries and infrastructure projects.”
He said that the state has been facing difficult power
supply situation due to inadequate investments made by previous government.
“Now the chief minister has taken steps to improve this situation by signing
long-term power purchase agreements for 1200 MW and new generation capacity to
the extent of 4,191 mega watt will be added before March 2014,” he added.
He also urged the industries and trade associations to take
part in State Skill Development Mission to help build a skilled workforce.
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