Investment in Panjab Fell 85% in AAP Govt's 1st FY

Investment in Panjab declined by over 85.23% during the first fiscal year (FY) of the AAP-led government's tenure in Panjab, said a study conducted by the Export Promotion Council (EPC) of the Ministry of Micro, Small & Medium Enterprises (MSME), and the Confederation of Organic Food Producers & Marketing Agencies (COII). According to the study, Panjab received an investment of only $420M in fiscal year 2022-23 compared to the $2.85B investment received in fiscal year 2021-22. Dr D S Rawat, chairman of the MSME EPC, released the study on 25 Jan and explained its objective, saying, ‘Investment, development and growth in Progressive Panjab 2018-19 to 2022-23 was to create awareness on policies of the state, attract investment in large, micro, small, and medium sectors, and generate employment opportunities.’ Usually investments are long term propositions and often new governments benefit from or lose to policies of their predecessors. As this is the first term of the AAP government, they could claim their predecessors did not do well. But in 2018-19, the second year of the previous Panjab INC government attracted investments of $5.2B. After that, the COVID-19 pandemic years started. That sets the standard for AAP. From how the government behaves – constant electioneering in other states, propaganda, emptying state coffers, misusing Central government schemes – the prognosis for AAP’s second year does not look good. For example, almost a year since the Center stopped National Health Mission (NHM) funds to Panjab following a tussle over branding of Aam Aadmi Clinics and the lack of resolution, the state government is now pumping $6.5M a month to keep the NHM programs afloat (SDW Vol. 2 Issue 1, Story 7).