Jaipur: Former CM Ashok Gehlot said on Sunday that the govt's Rising Rajasthan Global Investment Summit 2024 was a welcome step for the state, but he expressed concerns over the low execution rate of MoUs in the state. The execution rate, he said, stands at a paltry 10-12%.
Acknowledging that even he was unable to bring investments into Rajasthan during his tenure as CM, Gehlot said every govt attempts to attract investment from both domestic and foreign sources and encourages people to sign MOUs. "Whether it is Gujarat, Uttar Pradesh or Rajasthan, there is a lot of publicity during such events, similar to what is happening here. However, after the MoUs are signed, only about 10% to 12% of the promised investments materialise. This was observed in Gujarat, UP, and other states as well," said Gehlot.
He further said that though an investment summit was organised during his tenure as CM, he could not claim to have brought in many investors to the state. "Industrialists attending a programme is one thing, but that translating that into real investment is another. Very few investments materialise as they assess whether their project is viable and what the govt's attitude is. Only then do they invest," he said.
Gehlot also urged PM Narendra Modi to ask the PMO to issue all necessary approvals for the refinery in Barmer and get work initiated on the Petroleum Chemicals and Petro Investment Region (PCPIR) of the refinery during his visit to Jaipur for the Rising Rajasthan summit. The ex-CM said while the refinery administration had promised to start commercial production by Dec 31, 2024, the project appears far from complete.