Goa economy to pick up by mid-July: CM

PTI, PANAJI | 30 June 2012 12:09 IST

Goa's economic growth will pick up momentum from mid-July as the State Government has cleared all debts accumulated during the erstwhile Congress-led administration, Chief Minister Manohar Parrikar has said.

The debts, amounting to Rs 1,200 crore, which had piled up through various outstanding, were paid-off by the current BJP-led Government, which took charge on March 9 this year, he said.

"We have a clean slate now. Economic growth will be fast paced from July-mid onwards," the Chief Minister said, addressing the Annual General Body meeting of Goa State Industries' Association here last evening.

"The way state was handled by erstwhile Government was terrible. When I took over the reign, I had payable debt of Rs 1,200 crore," Parrikar said.

He asked businessmen to come up with viable policies and assured Government's support to push them.

"You help me in creating employment for locals and I will help you in earning profits." Goa, he said, aims to achieve 12 per cent growth in its GDP by the end of current fiscal and take that rate to 15 per cent in the next financial year.

"For this, I need a clear cut support from the business community."

The Chief Minister assured to look into the problems being faced by ailing industrial units and come up with solutions by the end of second quarter of the current financial year. 

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