Business Daily from THE HINDU group of publications
Friday, Oct 27, 2006
Industry & Economy
Logistics - Roadways
States - Andhra Pradesh
10 pc growth possible: PM
THE PRIME MINISTER, Dr Manmohan Singh, launching the four-laning of the Nagpur-Hyderabad-Bangalore section of the National Highway 7 (North -South Corridor) at Kothakota in Mahboobnagar district on Thursday. From left are the APCC President, Mr K. Keshava Rao; the Union Ministers Mr T. Subbarami Reddy, Mr S. Jaipal Reddy and Mr T.R. Baalu; the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy; and the Union Minister of State for Transport and Highways, Mr K.H. Muniyappa. - P.V. Sivakumar
Kothakota , Oct. 26
The Prime Minister, Dr Manmohan Singh, has said that India is poised for 10 per cent growth in the near future. With such rapid growth, the country could remove "the ancient scourges of poverty, illiteracy and unemployment" in the next 10-20 years.
Addressing a huge gathering here on Thursday, he said a growth rate of 8-9 per cent, which was not considered feasible a few years ago, was not only possible now but the country could hope to grow at 10 per cent soon.
Earlier, he laid the stone for four-laning of NH (national highway) 7 that connected Nagpur with Bangalore via Hyderabad. This is part of the 4,000-km North-South corridor that would connect Srinagar with Kanyakumari.
The Prime Minister said that the UPA (United Progressive Alliance) had expanded the National Highways Authority of India (NHAI) programme to develop road infrastructure at a whopping cost of Rs 2,20,000 crore, "a figure unimaginable even three years ago."
The four-laning of this important highway would spur growth in industrial sector in the region, while offering new markets for agricultural produce. This, in turn, would create lakhs of jobs, he said.
He distributed cheques worth Rs 52.66 crore to the representatives of district federation of women self-help groups that had a membership of 9,253 groups.
One-sixth (773 km) of the North-South Corridor would go through Andhra Pradesh. These would be taken up at a cost of Rs 5,000 crore in the next two years.
The project for which the foundation stone was laid by the Prime Minister would cover 263 km and it would cost Rs 1,738 crore.
A stretch of 253 km from Kurnool to Karnataka border would be taken up with a loan from Asian Development Bank. "Remaining stretches are in the advanced stage of approval," Mr T.R. Baalu, Minister for Shipping, Road Transport and Highways, said.
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