File Photo of Tamil Nadu Chief Minister Jayalalithaa.
The Tamil Nadu government is holding a two-day Global Investors Meet in Chennai today and tomorrow. The state aims at signing deals that would bring in an investment of at least one lakh crore generating jobs as well.
The state will woo investors with a single window clearance in 30 days for approvals, ready land, connectivity, uninterrupted surplus power supply by year end and skilled man power.
Senior officials say they are expecting investments in many sectors including manufacturing, energy, handloom, Information Technology, Agriculture and Animal Husbandry, Automobiles, Automative Spares besides micro and macro enterprises.
Around 4,000 delegates have signed up for the two-day meet.
Over the last four years, severe power shortage in the state had crippled small industry. Authorities say now the situation has improved phenomenally and by the year end they would clock permanent surplus power.
The opposition calls this meet, which was postponed a few times, a farce, citing it comes in the last year of the AIADMK government's five-year term. DMK Treasurer MK Stalin says, "Many industrialists and groups are being threatened to sign deals giving exaggerated investment commitments."
The state spends Rs 13,000 crore on subsidy for food, power and transport, Rs 4,600 crore on freebies like free mixer-grinder, laptops and stationery.
This year's budget projects a revenue deficit of Rs 4,616 crore and fiscal deficit of Rs 32,000 crore.