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Jagan's investor friendly AP govt attracts 3.32 lakh crs worth of investments

Wednesday, November 29, 2023 • Tamil Comments
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While perceptions of the Andhra Pradesh government, led by CM Jagan and the YSRCP, suggest a focus on political maneuvers and opposition suppression, a closer look reveals a contrasting reality. Despite opposition criticism hinting at an economic downturn and mounting debts, factual data unveils a different narrative. The AP government, under CM Jagan's leadership, has been at the forefront of attracting investments since 2019. A joint survey by the MSME Export Promotion Council and the Confederation of Organic Food Producers and Marketing Agencies highlights a significant accomplishment, with the government securing a remarkable 3,32,186 crore in 2022-23.

Cumulatively, from 2019, the state has successfully attracted a substantial 9,41,020 crore from both public and private sectors, according to Dr. D. S. Rawat, Chairman of the MSME Export Promotion Council. The data from the Centre for Monitoring of Indian Economy (CMIE) further underscores the progress, noting completed investment projects worth 1,34,419 crore and the revival of pending projects amounting to 27,110 crore during this period.

In the fiscal year 2022-23, the state's commitment to development is evident, with total outstanding investment projects reaching 17,90,533 crore. Projects under implementation stand at 7,51,980 crore, signaling a proactive approach. The study emphasizes the necessity of a high-powered monitoring committee to expedite withheld projects, indicating a commitment to overcoming obstacles.

Noteworthy is the announcement of new government investment projects totaling 23,293 crore, alongside substantial contributions from the private sector amounting to 3,08,893 crore during the same fiscal year. The comprehensive figures for outstanding and implemented projects under both government and private initiatives paint a picture of economic vibrancy and momentum.

As the study delves into the state's economic landscape, it sheds light on the thriving MSME sector, comprising around 61,000 businesses and providing employment to approximately 5.80 lakh people. This indicates a diversified and dynamic economic ecosystem contributing to the state's overall growth and prosperity.

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