Express Properties

The Indian Express

The Financial Express

Latest News

Screen

Express Computers

Travel

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Columnists

Graffiti

Environment

Jewellery
Info-tech

Power


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Sunday, January 17, 1999

Joshi admits severe financial crunch

ENS ECONOMIC BUREAU  
MUMBAI, JAN 16: Maharashtra Chief Minister Manohar Joshi on Saturday admitted that the state was facing severe financial constraints due to various `landmark' policy initiatives taken by his government. However, he hastened to add that, "in the larger interest of the people we will overcome it." Joshi's candid admission was made for the first time after Crisil downgraded the credit rating of four irrigation development corporations from AA- to A+. The chief minister was speaking at the fifth financial services convention organised by the Bombay Management Association.

Joshi, talking about his political opponents said that Maharashtra continues to be the "most favoured state" among investors. "It is ironical that opposition leaders including former chief ministers are running a campaign about the state declining to the fourth position," he commented. Joshi admitted that his government has failed to market its achievements within and outside the country. Necessary measures will be taken soon to projectMaharashtra in proper perspective, he said.

The chief minister said the package scheme of incentives had been amended to cover mega projects in the automobile sector in the Mumbai Metropolitan Region. He defended the sales tax concessions offered to Tata's Indica and Fiat. ``Contrary to popular perception, Maharashtra leads other states especially Andhra Pradesh and Karnataka, in information technology. Half of the country's total software exports are from Maharashtra which has decided to observe the year 1999 as IT year,'' he added.

The chief minister defended the government's Rs 10,000 crore plan to harness Krishna valley water and added that as many as 10,000 hectare of land has been brought under irrigation in just four years as against over 45 years taken by his predecessors.The Rs 1,250 crore Mumbai-Pune expressway will be constructed in a record two years and opened for vehicular traffic from January 2000. "Despite all the odds, especially public outcry, writ petitions and delays in gettingclearance from the Centre, my government has given top priority to this project," he said.

Joshi attributed the withdrawal of P&O Australia Ports from the Vadhavan ports to politics, environmentalists, adverse judgment by the Dahanu Taluka Environment Protection Committee and above all a conspiracy hatched by some people from other ports. He however, mentioned that P&O has expressed its desire to participate in the development of any other port in the state. The chief minister admitted that Andhra Pradesh has "stolen" the much discussed Indian School of Business promoted by a consortium of leading business houses. Declining to divulge details however, he added that "we will bring in the Harward School in short time."

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top


Sardar Sarovar Narmada Nigam Ltd.

DRDO Recruitment

Astrosurf
 

Click here for a printer-friendly page Printer-friendly page

Search and order from the largest database of Indian books



EXPRESSindia.com
News   Business    Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Travel | MatrimonialsCareersLifestyle | Astrology
E-Cards | Graffiti | Environment | Jewellery | Info-tech | Power