Forcing the slowdown to take the backseat, Haryana has achieved a unique distinction of registering 70% of the implementation rate of pledged investments against 33% of the same for various states, an Assocham study has revealed.
Titled as ?Achieving Double-Digit Growth in Haryana?, it states there were 635 live investment projects worth around Rs 3.5 lakh crore in Haryana till 2009 end. Real estate industry has got the lion?s share of 55% in the total live investment. Services and electricity are the next two important destinations of investment. Manufacturing attracted 8% of the investment while the share of investments in irrigation were mere 0.17 %.
Assocham secretary-general DS Rawat said, ?The present status of these investment projects reveals that about 70% of investments are seeing implementation. About 29% of the live investments are in the announcement stage. During the three months period to September 2009, seven projects worth Rs 3,840 crore were completed.”
However, he said, power availability and the quality of power has been a major determinant for economic growth. As per the available information, power is a major growth hurdle in Haryana. The state experienced about 8.5% of power deficit in 2008-09. The peak hour deficit was recorded at 13% during the same year. This is considered to be one of alarming scenarios in India.
This turns out to be a major weakness of the state and affects the growth potential of the state economy.