Home ECONOMY Odisha requires subtle approach for development: CM

Odisha requires subtle approach for development: CM

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Bhubaneswar, Sep 7:

Odisha Chief Minister Naveen Patnaik on Monday said the development of the state requires a subtle and nuanced approach given the unique geographical situation and diverse socio-economic profile.

Naveen Patnaik
Naveen Patnaik

“The developmental needs of our state, in view of its unique geographical situation and diverse socio-economic profile, throw a unique challenge. It requires a subtle and nuanced approach,” said the chief minister.

Patnaik was speaking after inaugurating the Centre of Excellence in Fiscal Policy and Taxation at Xavier University here.

He said in this scenario, it was imperative to meet the rising expectations of the people advising the policy makers to work for long term fiscal sustainability ensuring economy, efficiency and effectiveness in public financial management to meet these imperative needs.

“The growth momentum in the national and the state economy is required to be revived and make the growth more inclusive,” he said.

Patnaik said on the fiscal management front, the state has taken great strides.

“We have been achieving fiscal targets set in the Fiscal Responsibility and Budget Management Act, 2005. The Tax GSDP ratio of our state has increased from about 4 percent in 1999-2000 to about 6.4 percent in 2014-15.

“Debt to GSDP ratio is one of the lowest in the country at present. It is indicative of our capacity to go for greater capital investment to enable higher growth,” said Patnaik. (IANS)

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  1. Odisha govt. should spend more money on infrastructure; better rural roads and better state highways like USA, state railways, regional air ports, health, clean drinking water and energy resources. Better infrastructure, clean environment and liberal tax incentive will attract many investors to invest in Odisha. Follow the steps Chinese government took attract foreign investors to open up factories labor intensive products like shoes, garments, plastic toys and household products. Don’t concentrate too much in mining based industries, it is fine but to generate employment throughout the state concentrate on low tech labor intensive products manufacturing. Make a goal to eradicate poverty within the state within 5 years no more than that. Government has to cut down bureaucracy and increase efficiency. People should not depend on government hand out, that is handicap, cannot be acceptable. Government must train people to get into job market. Every Odisha high school student before they graduate from high school should have vocational training and let the private companies participate in financing for the training. Government should open up Industrial Training Institutes in every Panchayat for high school students to start the one year training program before they graduate from high school. Every 4-year colleges should have vocational 2 years associates and 1 year certificate programs like community colleges in USA. Follow USA community college curriculums for the vocational programs. Once you have trained young workforce a lot of investors will be encouraged to come to Odisha to open up their companies. For this you don’t have open new departments, the secondary board of education is enough. Government should open up part-time works in offices and other institutions and commercial places and encourage young high school graduates to join any military branch for 2 years for the defense of the country.

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