DIMAPUR, DECEMBER 3 (MExN): The Opposition Congress party has pointed out that the negative GDP growth rate as brought out by the Business Standard Report (BSR) shows that the State’s economy is in recession. A press note from the Media Cell of the NPCC stated that the “rich have become richer and the poor have become poorer”. “Consumerism is limited to the richer sections only. The rich spent larger part of their cash flow outside the State and on fixed immovable assets within the State”, it alleged.
The NPCC pointed out that negative factors like fiscal mismanagement, huge deficit gap, colossal debt, high outstanding loans, rampant corruption, lavish government spending, etc. had all their shares in contributing to the retarded growth rate of the State. “Over-eating and merry-making of the fun loving DAN government has paid off at the cost of the common men”.
It also stated that Nagaland’s low growth rate has pulled back the overall growth trajectory of the Northeastern States. “It is a liability to the N-E region which is also reflective of the Chief Minister Neiphiu Rio’s own statement that Northeast region was considered a liability to the country”.
The Congress alleged that the DAN government is a liability government to the Nagas. “Bad governance had caused bad economy. Nagaland had failed to prosper under DAN government. The electorates of Nagaland should show them the door”.
The NPCC also stated that the Business Standard Report (BSR) which states that Nagaland State’s growth rate is lowest among the Northeastern States has brought great shame to the people of Nagaland although Nagaland is the second oldest State in the region.
“The under achievement of 6.2% growth rate as against the target of 9.3% had deflated all the tall claims of the NPF-led DAN government on development front. It fall below the growth rate of the financial year 2011 which stand at 7.02%. This showed that Nagaland’s economic growth is retrograde. It also put big question mark on the validity of few national awards on development that the State was bestowed by some institutions”.
Pointing out that economic growth is the increase in the amount of the goods and services produced by an economy over time, the NPCC stated that agriculture, industries and businesses are the main economic activities that contribute to the GDP and that in Nagaland, despite 70% of population engaged in agriculture it contributes only 19% to the Gross Domestic Product (GDP). Further it stated that poor economic activities in other sectors had caused over 50% deficit gap in the State’s GDP. The GDP of Nagaland in 2011 was $1,590 (in millions) and per capita income was Rs.21,434/- only, it stated.
The Congress stated that the DAN government was indifferent to the State’s economic health and it had no time for economic growth of the State while it “over-engaged itself in Naga political issue which was not its priority business”. “The low growth rate had undoubtedly affected personal income of people, businesses, and jobs. It has made the middle class and BPL consumers poorer who have no money to purchase”.
