PHDCCI lauds HP for achieving 9.3 per cent growth

Shimla, Mar 6 (UNI) The PHD Chambers of Commerce and Industry (PHDCCI) today congratulated the Himachal Pradesh government for achieving a growth rate of 9.3 per cent and a per capita income of Rs 36,783 during the fiscal.

Welcoming the Budget proposals for 2007-08, it said though the setting up of the Baddi-Barotiwala-Nalagarh Development Authority (BBNDA) was a welcome step, such authorities should be set in other industrial areas too, it said in a statement here.

The PHDCCI said more funds should be provided to it for developing necessary infrastructure in the industrial areas since a sum of Rs 21 crore provided to the Authority was inadequate.

The government's decision to reduce stamp duty from eight to five per cent was also welcome and would help in checking tax evasion and under valuation of property, it said.

The chamber suggested granting of speedy clearances to hydel projects in the state, saying it would help in increasing its revenue and the funds thus received could be utilised for the state's development.

Lauding the government's decision to increase investment in roads and airports, it said besides connecting remote and far-flung areas of the state, it would also lead to economic prosperity in these regions.

However, the PHDCCI lamented that the state government had not paid adequate attention to agro business infrastructure development which it would have enhanced the income of 90 per cent people of the state residing in the rural areas.

Observing that Himachal had seen slight improvement in its fiscal deficit, it said there was still scope for better management of its finances.

UNI