Only 10 pc of GIM-I proposals implemented

Out of the 389 proposals received for investments from the project promoters during the 2010 Global Investors’ Meet, as many as 40 have been implemented.

This also means that just 10 per cent of the proposals have materialised since two yeas after holding the meet.

Replying to a question by T B Jayachandra (Cong) in the Legislative Assembly, Major Industries Minister Murugesh Nirani said that in 2010, 389 projects promising an investment of Rs 3.92 lakh crore were made during the GIM-2010, while it was 751 proposals assuring an investment of Rs 7.20 lakh crore in second edition of GIM in June this year and all these proposals are in the pipeline.

Of the 77500.68 acres required for the project proposed in 2010, 2,218.06 acres have been acquired. For the current year’s proposals, 63,569 acres are required, he added.

Jayachandra and other members of the Opposition party said the government is taking credit for the success of the GIMs, but the implementation of the projects is hardly anything.

The government has taken publicity rather than actually getting the investments or creating jobs.

The land taken for industrial purposes have been misused for real estate, they said.

However, Nirani argued that it takes two to five years to get a proposal materialised.

The government is pursuing all the MoUs it had signed and his government was not allowing conversion of land sanctioned for industrial purposes to real estate, he said.

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