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Gujarat grows amid pandemic: GST collection & FDI

By IndianMandarins- 07 May 2021
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May 07, 2021: The Covid-19 pandemic appears to have failed to undermine the industrial climate of Gujarat. This is reflected in the highest-ever GST collection last month. The rise in power and gas consumption by industry is a strong signal of recovery and indicates a strong consumer sentiment.

Gujarat’s competitiveness is also reflected in FDI inflows. Even during this second wave, the state has received few proposals for large investment in according to ACS Manoj Das.

Quoting the data released by DPIIT, he pointed out that Gujarat received the highest FDI worth Rs 1.58 lakh crore (USD 21.24 bn) during Apr-Dec 2020 recording a growth of 550% over the same period in the previous year.

As the revenue lifeline remains intact in the state, the state government is focused and dedicated to fight, reduce, and eliminate the covid cases triggered by the second wave.

Das pointed out that the state has already allotted land for the investment of Rs 5,000 crores to the medium and small industries during the current wave of the pandemic. Lands have been allocated in Dahej, Halol (near Vadodara), and Saykha (Bharuch). Apart from these, there are some large investment proposals and MoUs worth Rs 5000 cr will be signed shorty.

He said even during these difficult times, the state has been driving economic growth by focusing on proactive governance, transparent and investor-friendly relations, robust infrastructure, and conducive policies.

According to Das, the state is on the road to a massive expansion of the health infrastructure. Through a number of remedial measures, it has increased the availability of Covid beds (oxygen and ICU beds), roped in private hospitals with 75% reservation of beds for COVID patients, and liberalized admission rules for patients. Further, ‘Control Rooms’ have been established to maintain oxygen supply chain networks, involving the production and bottling units to meet the increased demand (1,250 MT) of liquid medical oxygen (LMO). Testing facilities have been augmented and these facilities have also been extended to migrant workers.

All these measures, Das said, had helped maintain the momentum of economic activities reflected in uninterrupted construction activities, and operations of banking & financial institutions with 100 percent attendance. Indeed, the government has made all-around efforts to avert a complete lockdown situation like last year, he added.

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