Government has thrust itself into creating more entrepreneurs: Prabhu

Mangaluru, May 17 (KNN) Union Railway Minister Suresh Prabhu said that the government has thrust itself into creating more entrepreneurs and making business in India easy.

Speaking at the platinum jubilee valedictory celebration of Kanara Chamber of Commerce and Industry (KCCI) held yesterday, the Minister said, “Recently, we passed a bankruptcy law in parliament. This is very important move since there is a life cycle for business. Many initiatives have been taken by our government to allow businesses and entrepreneurs to grow. In the last year we have invested more than Rs 1 lac crore.”

An addition, Rs 1 lakh crore is being invested in high speed railways and another Rs 85,000 crore into dedicated corridors. Already an Rs 40,000 crore contract is given for creating electrical locomotives. Karnataka has got a huge amount of money in the last two budget sessions which previously no government has given.”

“We have come a long way. Making the first million was very difficult. We have doubled our turnover in the past 7 years only, from Rs 1 trillion to Rs 2 trillion. So the growth of India's economy will be synonymous in the years to come. India's growth is driven not by the government alone, but by the people,” said Prabhu.

He further stated that in the next three months, “We will form a joint venture company with Karnataka to create additional infrastructure. This is something different that we have decided to adopt. Along with our developments additional infrastructure is also created.”

This year about Rs 1.21 lakh crore will be the capital expenditure and many other huge capital expenditures will happen with private partnership, state government and others.

“Some of the works have been mentioned by you and some are already underway and many others can be taken up under this new company. The idea is that priorities are decided by the local authority and state governments and development is initiated,” he added.  (KNN Bureau)