Delhi will continue to achieve double digit growth, says CM

Notwithstanding the gloom in the economy, Delhi Chief Minister Sheila Dikshit, on Monday, said she was confident that the national capital will continue to achieve double digit growth in the current fiscal.

Terming Delhi as "nerve centre" of growth, she said her government has been following a pro-investment policy which has led the economy to grow at a healthy rate.

"In the last few years, we have achieved double digit growth of over 11 per cent. The growth rate in 2011-12 was 11.54 per cent. We are hopeful that we will sustain this double digit growth this year," the Chief Minister said.

Delhi's economy grew at 11 per cent in 2012-13 when the country's growth rate had slipped to a decade low of 5 per cent on account of poor performance of farm, manufacturing and mining sectors. India's growth rate has been projected at 5.5 per cent in 2013-14.

She was speaking at a CII conclave to showcase investment opportunities in northern states.

The Delhi government has projected the economy of the city to grow at a rate of 11 to 11.5 per cent during the 12th Five-Year Plan period.

The growth rate of Delhi in the Eleventh Plan period was 11.46 per cent as compared to 7.9 per cent at the national level.

The city government has already taken a number of steps including enhancing the tax collection mechanism and keeping the fiscal deficit under control.

In her address, Dikshit highlighted various industry- friendly initiative of her government and said infrastructure at all the 29 industrial clusters was being enhanced.

Asked about the state of the economy of the country, Dikshit said investor and industry leaders should be patient and continue to have confidence in the economy which has potential to rebound.

She said an industrial park for IT industries is being set up by the Delhi government at Baprola area of North Delhi as part of policy to promote clean technology industries in the city.

The government plans to invest a whopping Rs 1,800 crore to develop the park.

In 2010, it had unveiled a new industrial policy aiming to make the national capital a global hub for clean, high technology industries and services sector.