Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Industry & Economy - Economy


`Fiscal discipline need of the hour'

Our Bureau

KOCHI, June 20

IF Kerala is to come out of its financial crisis, the State Government has to introduce strict fiscal discipline besides implementing second-generation reforms.

Speaking to newspersons after taking over as the Chairman, CII Southern Region, Mr T. Kannan said that for creating the `New Kerala', it is imperative to have second-generation reforms in all the vital sectors such as power, labour and State finances.

There should be better public-private partnerships whereby several sick units could be revived.

The majority of the State PSUs have been incurring losses for years and their accumulated losses have crossed Rs 2,500 crore. "Therefore, it would be wise to disinvest," he said.

Presenting two methodologies for creating the `New Kerala', Mr Kannan said that the State should adopt an e-governance model to improve the services to the citizens, besides holding road shows at home and abroad on the `New Kerala'.

Thrust has to be given to entrepreneur development with focus on women. The tourism potential is high but it has not been fully exploited.

According to Mr Kannan, another area where the State could make strides is the emerging IT-enabled services market.

At the same time, the Government should create a conducive atmosphere facilitating large NRI/NRK investments in the State. The forthcoming Global Investors' Meet (GIM) should focus on the investment climate in the State, he added.

Mr Kannan also said that Kerala should promote agri-based exports. "It has tremendous potential in ayurveda, and there must be should have to be a systematic and scientific approach for nurturing the alternative medicine system and herbals. Besides, Kerala could be promoted as a global resource centre for training and education, he added.

Mr Kannan also spoke on the CII (SR) theme for the year, `HIT (Human Resources, Infrastructure, Technology): Southern Region Competitiveness'.

Those participated included Ms Pamela Anna Mathew, Chairperson, CII Kerala, Mr K.K.M. Kutty, Deputy Chairman, CII (SR) and Mr C.G. Jolly, immediate past Chairman, CII Kerala.

Send this article to Friends by E-Mail

Stories in this Section
Bay system to trigger next monsoon `pulse'


Cost inflation index at 447
Cement, petro products drive core sector growth
`Fiscal discipline need of the hour'
AP: Qualitative improvement of SHGs urged
Monsoon advances in Karnataka
Chamber wants infrastructure in Coimbatore improved — Memorandum submitted to TN CM
Private funding of infrastructure projects — IDFC plans to brief TN CM
Revenue recovery law to collect dues — AP Govt to press ahead with power reforms: CM
CBDT note on coffee income
TN: Decision soon on review of entry tax
Jayalalithaa launches Rs 960-cr Tirupur drinking water project
Karnataka Govt may review liquor policy
WorldSpace sees no threat from FM radio
Wipro initiative to revamp education model
Karnataka: Housing projects launched
IFC aid for biotech projects
India hopes to excel China in FDI inflows: Maran
RBI help sought on automatic route misuse
Pfizer sues Dr Reddy's on hypertension drug
New industrial policy for J&K
Hyderabad Engagements
PAN must for more bank transactions
AP: Gold card for `honest' tax payers
Medium-term export plan for services likely soon
SAD removed on paraxylene imports
No DEPB benefit for duty-free imports
Kerala ayurveda centres in AP


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line