A storm has awakened with the release of the report regarding the economic performance of Goa in the year 2015-16 by Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Chief Minister, Laxmikant Parsekar’s criticism on the report’s factual errors has been echoed by the Goa Chamber of Commerce and Industry (GCCI) director general R S Kamat, who called the study to be based on “out-dated data”. However Goa Pradesh Congress Committee (GPCC) president, Luzinho Faleiro is of the opinion that the data released is the reflection of the imprudent fiscal management on the part of the state government.
Luzinho Faleiro Attacks Government’s Fiscal Management Ability
GPCC president, Luzinho Faleiro deciphered ASSOCHAM’s study on Goa’s economic performance titled, “Goa: Economic & Investment scenario”, into a faulty economic policy and fiscal mismanagement on the part of the state government.
“Goa is in a debt trap. These loans are not for infrastructure or development but to repay previous loans, and the interest on those loans. This is definitely not prudent fiscal management,” he said.
Goa CM’s Criticism on Assocham Report
Linking the report to a political bias, CM Laxmikant Parsekar suggested that the report had similarities with a pre-poll projection by a firm that recently claimed AAP to win 35 seats in 2017 Goa elections.
He informed that the amount of investments and project clearances has the government satisfied and then adding that commissioning of the project and job creation cannot take place over night.
“We have approved 114 projects — which are in early stages and we have a beeline of reputed investors wanting to invest in the expansion projects of IT, industry and tourism. I am surprised at the report by such esteemed body,” Parsekar said to The Indian Express.
Goa’s Industry Players Hit Back at “Outdated” ASSOCHAM Study
Responding to the ASSOCHAM study, the local industry that comprise of large and small units has questioned the authenticity of the report.
Goa Chamber of Commerce and Industry (GCCI) director general R S Kamat only agreed to only one part of the study, which highlighted the lack of ease of doing business in Goa. To the rest he said, “Goa’s economy is on its way to recovery and much better than what it was two years back. The ASSOCHAM study is based on outdated data of 2013-14 and they have come to a totally wrong conclusion.”
Adding to the reproach on the study, Nitin Kunkolienkar, an information technology professional was harsh on the matter and called it a study made by “incompetent persons”. Pointing to the study’s number that reported investments to be of 9% in 2015-16 from 91% in 2014-15, Kunkolienkar said that he doubted the authenticity of the figures.
Several industrialists also rubbished the data. Atul Pai Kane said that the ASSOCHAM study does not merit comment and “it should not be a cause for alarm. While Atul Naik of Precitech Components, Margao said, “it is easy to confuse people with statistical data.”
Comment on this article, share your thoughts and perspectives and tell us your take on the ASSOCHAM study. Click here to read the Chronicler’s previous article featuring statistics as given in the ASSOCHAM study.