PINAKI MAJUMDAR
Jamshedpur, Feb 16: Jharkhand has attracted in four years (2018-19 and 2021-22) new investment proposals of over Rs.1.10 lakh crore, completed projects of Rs 52,893 cr, and revived pending proposals worth Rs 287.45 cr, according to a study jointly conducted by the MSME Export Promotion Council and the Confederation of Organic Food Producers & Marketing Agencies (COII).
While in 2020-21 the new investment proposals were Rs 20,088.87 cr, and in 2021-22 Rs.27,97,998 cr. registering an increase of Rs 7,891.11 cr says the chairman of the MSME EPC DS Rawat while releasing the study this afternoon.
The total investment projects outstanding in 2021-22 were worth Rs 6,04,112.44 cr and under implementation Rs 2,67,836.15 cr as against total outstanding projects in 2020-21 of Rs 6,72,852.40 cr and under implementation Rs 26,783.61 cr.
The study has revealed that the state has been registering growth on all fronts; agriculture, industrial, social, education, health, and infrastructure and attracting significant investments from the private sector.
The state accounts for more than 40 per cent of the mineral resources of India.
In 2021-22, the total credit disbursed by all scheduled commercial banks by economic activity was Rs 9,21,880.6 million; agriculture Rs 1,22,210.8 million, Rs 1,49,135.1 million for industry, Rs 33,863.0 million for transport operators, Rs 47,108.0 million professional and other services, Rs 3,89,352.8 million personal loans, Rs 1,51,815.7 million trade, Rs 11,312.3 million finance and miscellaneous Rs 17,082.8 million.
The state government has geared up for its fast development to strengthen its economic growth and generate employment for the youth.
According to the study, currently, there are 3.76 lakh micro, small and medium enterprises (MSMEs) employing over 18 lakh people.
The state government aims to generate employment opportunities for 60 lakh people by developing industries.
It has a high potential to emerge industrial hub. The state provides investment opportunities in sectors such as mining and metals, power, infrastructure, manufacturing and food processing as 3 per cent of the total vegetable production of the country comes from the state.
Jharkhand is one of the potential natural resource states in India and more than 1,500 medicinal and aromatic species are found which contributes 5 per cent of the overall production of herbal medicinal products in the country.
The agriculture economy is dependent on nature and the productivity of rice is 1950kg/ha and for food grain, it is 43.10 MT, stated the study.
