Fails to comment on closure of Adityapur industries
Mail News Service
Jamshedpur, Dec. 1 : Union petroleum minister Dharmendra Pradhan on Sunday said that recession was a global phenomena and the Union Government has taken steps to meet challenges.
Addressing a press meet, Pradhan said steel sector is witnessing boom and demand has grown in October-November. The sector has strengthen with fresh investments from the steel sector companies.
He also added that the auto sector has also witnessed signs of improvement as sales of two wheelers and four wheelers have gone up.
He claimed that recession is a temporary phase and the country has nothing to wory, the minister said the government has pumped Rs 2.5 lakh crore in the market to improve the economic situation.
�We have a very strong strong economic fundamental and there is nothing to fear. Recession is a global phenomena. GDP ratio of 4.5 per cent was cyclical,� Pradhan said.
When questioned about the closed industrial units in Adityapur, Pradhan refused to comment and said even big economies across the world have become stagnant. He did not say anything why units in Adityapur were shut in Adityapur industrial area and about the government�s plans to revive them.
Several auto component units in Adityapur have shut business for over four months the owing to lack of demand. Vendors and auto ancillary units in the region, totaling almost 2000, are facing perhaps their toughest challenge yet, with orders coming down to a mere trickle, even as principals such as Tata Motors have drastically cut production to tide over tough times. It may be mentioned that out of 1200 and plus industry units some 400 units, mostly manufacturing companies that produces the ancillary parts of the final product of the big enterprises, even pulled down their shutters during the recession period.
The Minister also claimed that BJP is again going to form a stable government in Jharkhand, Pradhan said he has met lot of people during his trip to East Singhbhum and the feedback from them has been positive for the party. Jharkhand has witnessed development in the past five years vis-�-vis- 19 years.
� BJP led Government has played a key role in progress of the region. A stable government helped trigger growth. Ujjwala and Ayushman health scheme have been brought by the Government. The centre increased adequate funds for the development of the state. This has been possible only because of the double engine. The funds released by the centre is a record. However, lot needs to be done and BJP will do so in the coming years,� Pradhan said.
