Ahead of the Make-in-Odisha Conclave, Chief Minister Naveen Patnaik is not sure whether the Union Budget- 2020-21 will help the State attract investment.
Though the Chief Minister did not express the uncertainties in words, his reaction on the budget indicated that he is not happy over the provisions made in the budget to attract investors.
Stating that Sensex is an indicator of investor’s confidence, Patnaik pointed out that drop of almost 1,000 points following the budget presentation shows that there is a huge scope to take a number of measures.
“Investor confidence is important for fresh investments to come in, to spur growth which is the biggest challenge now. This will have a huge impact on job creation and livelihood options for youth,” observed Patnaik.
Since the State Government wants to create jobs for its youths in industries, the Union budget may not help Odisha to attract more investment.
Welcoming announcements made in the budget, Chief Minister raised concerns over the fall of the State’s share by Rs 3,000 crore due to a shrink in the divisible pool of the Central tax.