Funds not a constraint for development of Kerala: Chandy

Stating that funds are not a constraint for the economic development of Kerala, CM Oommen Chandy said his government`s prime goal is to make it an investor-friendly state without diluting the security of the less privileged.

Last Updated: May 27, 2011, 16:08 PM IST

Thiruvananthapuram: Stating that funds are not a constraint for the economic development of Kerala, Chief Minister Oommen Chandy on Friday said his government`s prime goal is to make it an investor-friendly state without diluting
the security of the less privileged.

"The impression that Kerala suffers for want of funds is incorrect. There are sources like NRIs, foreign investors and financial institutions ready to invest in big projects. But our weakness all these years has been lack of determination to
plan and achieve goals. This ministry is confident of overcoming these problems," Chandy told a news agency in an interview.

He said projects often run into problems because of controversies. When something becomes controversial, the political leadership has a tendency to back out."My approach is to overcome the difficulties and move forward."

Chandy, who assumed charge as Chief Minister last week, identified information technology, tourism and high-quality higher education as areas with immense potential for Kerala.

"As development could not be achieved through government funds alone, our objective is to tap various sources and investment avenues," he said.

During 2001-06 UDF rule, the World Bank rated Kerala second best investor friendly state in the country. But a 2008 study showed the state has slipped to the 17th spot. Now it is most essential to regain the confidence of investors, he said.

PTI