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Maharashtra losing its industrial state status, says Cong leader Bhalchandra Mungekar

According to Mungekar, other states like Tamil Nadu, Odisha and Karnataka have overtaken Maharashtra in investment and industrial sector

Updated: Sep 20, 2019 16:37:29

By HT Correspondent

According to Mungekar, the economic polices of the state are suffering and there is an urgent need to intervene, in order to make the situation better. (HT/PHOTO)

Congress leader and economist, Bhalchandra Mungekar, on Thursday, criticised the Maharashtra government for its bad performance in investment and industrial sector.

Speaking at the Congress Bhavan, Mungekar said, “A few years ago, Maharashtra was leading in the industrial and investment sector in the country, however, the state is now losing its glory. Other states like Tamil Nadu, Odisha and Karnataka have overtaken Maharashtra in both these sectors. This fact has been proved by the numbers given by the state government.”

According to Mungekar, the economic polices of the state are suffering and there is an urgent need to intervene, in order to make the situation better. “As an opposition party, the Congress wants to play a constructive role. Hence, former Prime Minister Manmohan Singh, had suggested a few changes in the policies to the Maharashtra government. But the Bharatiya Janata Party-led government did pay heed to these suggestions,” he said.

Mungekar said, “The non-performing assets are increasing with the banks. A total of 11 lakh crore non-performing assets are with the bank and 70 per cent of it was after 2014. This shows that the government policies are responsible for the slowdown.”



According to Mungekar, there is a need to increase investment in the public sector, in order to boost the economy. The focus should be on infrastructure developments. However, the BJP is only concentrating on private sector investment. “Private investors do not come forward if the basic infrastructure is not in place. However, the BJP is hoping to get private investments without infrastructure and this is where they are lacking,” added Mungekar.

First Published: Sep 19, 2019 19:43:29

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