Haryana job reservation to impact industry sentiments: PHD Chamber
According to Pradeep Multani, President, PHD Chamber of Commerce and Industry, people should be allowed to work in any state without restrictions.
The states, including Gujarat, Kerala, Telangana, Rajasthan, West Bengal, Bihar, Karnataka, Uttar Pradesh, Haryana and Odisha among others have shown high growth in their respective Gross State Domestic Product (GSDP) in 2021-22 and 2022-23, said a research report.
In the growth of GSDP, almost all the states are above the growth levels of the pre-pandemic years, the report said.
States characterized as resilient in their fiscal balance include Andhra Pradesh, Uttarakhand, Odisha, Gujarat, Haryana and Chhattisgarh,
said an analysis conducted by the Industry body, PHD Chamber of Commerce and Industry.
States that demonstrated remarkable resilience in their capital expenditure, include, among others, Assam, Bihar, Goa, Haryana, Gujarat, Jammu & Kashmir, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal and NCT Delhi.
“In the post-Covid era most of the states are performing well above the pre-pandemic levels. The lead economic indicators have shown a significant growth above the pre-pandemic levels,” the analysis said.
The analysis has been undertaken on five lead indicators including the Growth of Gross State Domestic Product (GSDP), Gross Fiscal Deficit as a percentage of Gross State Domestic Product (GSDP), Capital Expenditure, State-Wise Per Capita availability of Power, and Growth of Social Sector Expenditure.
A total of 28 states are resilient in the GSDP growth scenario, 24 states have a consistently outstanding supplying power, 23 states were steadily increasing their spending in the social sector, 13 performed well in increasing their CAPEX and 6 states have resilient fiscal balance, the report said.
Power availability marks the capability of the state’s infrastructure, the industrial potential and well-being of the citizens. A comparative analysis of power availability during pre- and post-pandemic years exhibits the high resilience among the twenty-six states except Bihar, Manipur, and Mizoram.
States’ Social services spending during pre and post pandemic years exhibits the high resilience, in the most of the States, including Andhra Pradesh, Assam, Bihar, Chhattisgarh, Goa, Haryana, Jammu & Kashmir, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Telangana, Uttar Pradesh, Uttarakhand, West Bengal, and NCT Delhi, among other states.
Most of the states are resilient in the post Covid era and are performing well above the pandemic level. Hence, the states are the thrust engines to set India in motion for a higher growth path for achieving the goal of developed India by 2047, the analysis added.
Meanwhile, Dr Shamika Ravi, Member, Economic Advisory Council to the Prime Minister (EAC-PM) Secretary, Government of India, has highlighted India’s remarkable growth over the past several quarters, particularly standing out amid global uncertainties.
Addressing the States’ Policy Conclave 2023 organised by PHDCCI in Delhi, Dr. Shamika stressed the importance of a balanced economic approach, noting that a shift from agriculture to services must include a focus on manufacturing, with an emphasis on Ease of Doing Business (EODB).
In his address, Rajendra Ratnoo, Executive Director, National Institute of Disaster Management (NIDM), Government of India, has urged states to formulate policies aligned with disaster preparedness to prevent adverse effects on businesses and MSMEs. Ultimately, ensuring the resilience of industry, infrastructure, and communities is crucial in adapting to evolving scenarios.
Taj Hassan, Director General, Fire Services, Civil Defence & Home Guards, Government of India, stressed on the critical importance of an effective responder mechanism in the context of disaster management. He highlighted the adoption of the Fire Bill by numerous states, with approximately 5000 crore rupees allocated for fire safety measures.
Ranjeet Mehta, Executive Director, PHDCCI, emphasized how within the federal structure of India, states play a crucial role as significant partners in achieving the 5 trillion-dollar goal for India’s economy.
DPS Kharbanda, CEO, Invest Punjab, said, Invest Punjab is an end-to-end online system providing timely statutory approvals with efficient feedback mechanisms. Recognized as India’s top-performing investment promotion agency by the Government of India, it excels in facilitating investment.
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