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No green field investment took place in TN: Chidambaram

Written by: Staff

Coimbatore, May 2 (UNI) Union Finance Minister P Chidambaram today said no 'green field' investment had taken place in the last five years in Tamil Nadu.

Talking to newpersons here, he said major Indian companies have diverted their investments to other states due to the indifferent attitude of the Tamil Nadu government.

As per the Centre for Monitoring Indian Economy, investment worth Rs three crore were in the pipeline in the country, but due to state government not providing proper information queries, big industrial groups like Tata, Ambani and Aditya Birla have shifted their base for investments in new projects, he added.

Compared to other states like Maharashtra and Andhra Pradesh, Tamil Nadu was lagging behind in developing activities, he said adding that companies like Nokia and BMW had invested in Tamil Nadu only due to Union Government's initiative.

As per the budget announcement seven petro-chemical hubs, including six in small ports towns has been planned in the country.

But Tamil Nadu does not figure in the list as the state government had failed to take up development works in small ports, he said.

Referring to state Chief Minister J Jayalalithaa's announcement that four gram gold mangalsutra would be given to poor girl at the time of marriage, Mr Chidambaram pointed out that the previous DMK government had provided marriage assistance scheme under which Rs 10,000 was given to each poor girl but the Jayalalithaa government had scrapped it.


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