Gujarats outstanding debt for the year 2001 was Rs 45,301 crores, and its debt for the year 2012 ballooned to Rs 1,38,978 and now it has crossed Rs 1,75,000 crores and counting. So lets separate facts from fiction eh 1) FDI inflows for the financial year 2012-13 up to January this year indicate that Gujarat ranks sixth in the country with Rs. 2,470 crore or 2.38 per cent share. 2) Industrial growth for Gujarat was 3.95%, and during 2005-09, it was 12.65%, when compared to some other states. During these sub-periods, industrial growth for Orissa was 6.4% and 17.53%; for Chhattisgarh 8.10% and 13.3%; and for Uttarakhand 18.84% and 11.63%. Thus, the hitherto industrially backward states have far surpassed Gujarat. 2) Gujarat, with 31.8% people below the poverty line did better than Maharashtra and Karnataka, it still lagged behind Kerala, Punjab, Himachal Pradesh and Haryana, where poverty levels were 19.7%, 20.9%, 22.9% and 24.1%, respectively. Rural poverty in Gujarat is as high as 51%. Rural poverty levels for scheduled castes and scheduled tribes stood at 50% and 57%. Poverty rate among other backward classes was 42%. 4) Economic growth during 1995-2000 and 2001-10, Gujarat increased its annual rate of growth from 8.01% to 8.68%. But so is the case with other major states such as Andhra Pradesh, Haryana, Maharashtra, Punjab, Tamil Nadu and Uttar Pradesh. In fact, Gujarat was ranked second after Rajasthan (8.34%) in the first period and third after Uttarakhand (11.81%) and Haryana (8.95%) in the second period. 5) The credit-deposit ratio, Gujarat is far behind other major states. In 2010, Gujarats share in total deposits of the scheduled commercial banks was 4.70%, as against 5.42%, 6.20%, 6.34% and 26.60% for Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra, respectively. 6) The amount of per capita deposit and per capita credit for Gujarat was Rs 37,174 and Rs 24,268; while for Tamil Nadu, it was Rs 42,580 and Rs 47,964; Karnataka Rs 49,598 and Rs 38,154; and Maharashtra Rs 1,10,183 and Rs 89,575. Even Kerala did better than Gujarat with Rs 43,890 and Rs 27,912. 7) In terms of per capita income (PCI), in 2011, Gujarat ranked sixth among major states with PCI of Rs 63,996, after Haryana (Rs 92,327), Maharashtra, (Rs 83,471), Punjab (Rs 67,473), Tamil Nadu (Rs 72,993) and Uttara-khand (Rs 68,292). 8) With respect to Human Development Index (HDI), Gujarats story is devastating. The HDI for Gujarat, in 2008, was 0.527 and it ranked 10th among major states. Kerala stood first (HDI: 0.790), Himachal Pradesh scored 0.652, Punjab 0.605, Maharashtra 0.572 and Haryana 0.552. With respect to three HDI components — income, health and education — Gujarat does not present a shining story. In this respect, states like Kerala took the lead in every sector, while Punjab, Himachal Pradesh, Haryana, Maharashtra, Tamil Nadu and West Bengal did better than Gujarat. Modis tenure over 10 years hasnt done much to step up Gujarats growth, either in relation to its own past performance, or relative to the performance of other similar larger states. So all this bullshit about Gujarat as the beacon of growth is just a fairytale for the blind supporters and pseudo-intellectuals.
Posted on: Mon, 27 Jan 2014 06:30:05 +0000
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