Chhattisgarh Sets Ambitious Target To Double GDP To Rs 10 Lakh Crore In Five Years

Raipur, Mar 17 (KNN) Chhattisgarh Finance Minister O P Choudhary announced plans to double the state's gross domestic product (GSDP) to Rs 10 lakh crore within five years.

The ambitious target requires a 14 percent growth rate, which the minister expressed confidence in achieving through a combination of the state's rich resources and progressive policies.

The state's new industrial policy, which prioritises employment creation over investment amounts, has already attracted investment commitments exceeding Rs 1 lakh crore in the past 15 months.

Semiconductors manufacturing, data centres, IT services, pharmaceuticals, and medical tourism have been identified as focus areas for development.

As a power surplus state, Chhattisgarh is also pursuing renewable energy initiatives, particularly in solar power, given its abundant year-round sunlight.

The minister emphasised the state's commitment to clean energy and sustainable development, noting that ‘sustainable development will sustain in the long term.’

Beyond manufacturing, the state is exploring opportunities in sectors such as ayurveda and medical tourism.

Choudhary revealed plans to develop Raipur as a wedding destination, stating, "Our secondary sector is already very strong. We are focusing on the tertiary sector and the labour-intensive sector so that we can give employment to our youth."

Infrastructure development remains a priority, with the budget targeting an 18 percent growth in infrastructure spending on roads, irrigation projects, and other areas with multiplier effects.

The state is also planning to complete a survey on Chhattisgarh's first metro rail project this year and is working to boost air connectivity with airports and aerodromes in major cities.

Regarding its mineral resources, including coal, iron ore, and critical minerals like lithium, the state government advocates for sustainable and environmentally friendly exploitation while ensuring proper rehabilitation for those affected by mining activities.

The minister also highlighted the state's focus on diversification into labour-intensive manufacturing sectors.

Choudhary emphasised that good governance is more important than subsidies in attracting investors. "Subsidy cannot attract an investor as much as governance," he stated.

The government is focusing on ease of doing business, process simplification, and reducing compliance burdens by abolishing unnecessary rules and regulations.

Reflecting on the state's progress since its creation 25 years ago, Choudhary noted significant improvements in infrastructure and economy.

"Our state's GDP used to be Rs 21,000 crore but now it is around Rs 6 lakh crore," he said, also pointing to the increase in medical colleges from one to over 14 during this period.

(KNN Bureau)