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ASCI team to help boost Pondicherry economy

Yanam (Pondicherry) : Hyderabad-based Administrative Staff College of India (ASCI) is conducting a study of the Yanam economy in order to prepare a holistic report with solid recommendations to revive the economy of the region.

As part of the study, a team of experts comprising Director of Centre for Economics and Finance Dr PR Madhusoodanan and faculty members of Finance Dr MM Ali and Dr Sai Kiran from the institute went on a two-day visit to Yanam on Thursday and Friday.

They had detailed discussions with various stakeholders of the economy, which include regional administrator, people’s representatives, political parties, various government departments, representatives of industry, agriculture, education and other sectors of the region, labour unions and bankers.

It’s noticed that all are equally concerned about the existing condition of the economy and highlighted the immediate need to revive the economy of the region.

The major points and requirements came up in the discussions include industry-focused economic development, special incentives from Central Government marking Yanam as an aspirational district, revival of existing industries in the short term, industry requirements like reliable power, fresh water, natural gas, clean fuel, skill development programme targeted at industry requirements and single window clearance with quick response, fiscal and non-fiscal recommendations for the immediate term and medium term.

The team identified tourism and aquaculture as potential sectors in the short term, along with other sectors in the medium term.

A detailed revival plan will be prepared based on these requirements taking into account the various Central Government schemes that are available for backward and aspirational regions.

“We will present the plan to the State government and appropriate Central government Ministries and Department to achieve the desired objectives”, Dr Madhusoodanan said.