New Delhi, Aug 8 (UNI) The Union Government today regretted that certain State Governments were not utilising the funds allocated for infrastucture development, notwithstanding the high priority that the Centre is giving to these projects.
Secretary in the Department of Industrial Promotion and Policy Ajay Shankar listed the State Governments which were slow in taking up projects relating to infrastructure development. These are Jharkhand, Orissa, Bihar and West Bengal.
The official was speaking after launching the website of Indian Earthmoving and Construction Industry Association Ltd (IECIAL).
Mr Shankar, however, said these States often face the problem of finding enough bankable projects and appealed to the States to pro-actively seek partners using the Public Private Partnership mode.
Regrettably, these States are also industrially backward, except West Bengal, and thus there is need for faster infrastructure development.
The official exhorted construction companies to follow the vendor development model, which will be bringing about a spurt in the development of infrastructure.
Mr Shankar said the Indian capital good industry has been affected by the global slowdown and affirmed that the government was committed to strengthening it and its development.
Stating that the capital goods industry was the very base of industrial development, Mr Shankar said its growth will enble India to catch up with the developing countries.
The website will enable Indian players in the Earthmoving and Construction Equipment(ECE) segment to interact with global players.
Between 2004 and 2007, the ECE industry generated 2.3 billion dollars in terms of revenue. Projections are that its rvenues would touch the 12-13 billion mark by 2015.
The members of IECIAL include major players like Ashok Leyland Ltd, Bharat Earth Movers Ltd (BEML), Larsen&Turbo, Telco and Voltas.
UNI SG MP DS1527