Blatant Lie of Vibrant Gujrat The Centre for Monitoring Indian Economy (CMIE) recently examined the investment statistics flaunted by the Gujarat. The Vibrant Gujarat investment summit held by the chief minister has been projected to have earned billions of dollars of fresh investment into India. But a closer look at the figures reveals a different story. Only a small percentage of projects announced in Vibrant Gujarat (VG) summits in 2009 and 2011 have actually moved on the ground. The details of many grand projects are missing… In VG held in January 2009, government claims that 3,574 Memorandum of Understanding (MoUs) were signed for investments worth Rs 12 trillion. But CMIE could capture information and details of only 220 projects worth Rs 3,947 billion (Rs 3,94,700 crore). “The number of projects captured…were drastically low when compared with the official numbers displayed on the event’s website because of poor disclosure of basic information about the projects proposed. In most cases the website does not provide the details of a valid company name, location, product, and capacity,’’ says the CMIE report…. The same is the story for VG 2011. The grand claim was of 8,380 MoUs worth Rs 20 trillion being signed. But research by CMIE did not get any details of these MoUs and projects. “Like in the earlier fair, details of either company name, or location or product etc were not clearly available for us to identify individual projects in these,” says CMIE. These figures place Gujarat at the same level as other states. It is not head and shoulders above others. While Gujarat may be pushing projects faster than some laggard states, but it is not racing ahead at the speed it claims. There are many states that have recorded a higher economic growth rate than Gujarat. Between 2006-7 and 2010-11, Gujarat had a growth of 9.3 per cent. Good rate but still ranked sixth. Even humble Orissa was at 9.4 per cent. Bihar topped with 10.9 per cent while Chhattisgarh (10 per cent), Haryana (9.7 per cent) and Maharashtra (9.6 per cent) followed… The difference between Gujarat and other states is 80 per cent hype and 20 per cent substance.
Posted on: Thu, 12 Sep 2013 18:37:32 +0000
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