Previous GIS editions 'super duper flop': MP Congress

Ahead of the Madhya Pradesh government's Global Investors Summit (GIS), the Congress today launched a campaign to "expose nexus between government and businessmen to grab land", as it termed the previous editions of the mega event as "super-duper flop."
The GIS is scheduled to held in Indore on October 22-23.
"The government has organised four GIS earlier and out of the total MoUs signed, less than 4 per cent of investment was actually made in the state. The agreements were inked to get land by the industrialists, who later leased it to banks to take loans in connivance with state officials," MP Congress Committee (MPCC) President, Arun Yadav alleged at a press conference here.

To expose the "nexus between industrialists and the government" on the issue, Congress will stage a "Dhol Ki Pol" protest campaign across the entire state beginning from Indore on October 22, Yadav said.
Citing figures, Yadav claimed in the first GIS held in 2007, MoUs worth Rs 1.20 lakh crore were inked but actual investment made was Rs 4,774 crore.
In the second GIS in 2010 at Khajuraho, MoUs worth Rs Rs 2.37 lakh crore were signed, while investments worth only Rs 8,000 crore was made, he said.

Similarly, in the third GIS, which was again held at Indore in 2012, MoUs worth Rs 1.22 lakh crore were singed but in reality only Rs 4,747 crore was invested in the state, Yadav said.

The government claimed in 2014 GIS that MoUs worth Rs 6.79 lakh crore was inked but till date it has not provided any information about the actual investment made, Yadav said.
"According to these figures which we have sourced through RTI, the actual investment made in the state after all these summits was less than four per cent," he said.
The senior leader claimed that the state government after allotting land on lease to any industrialists also allows them to take loan by mortgaging it in the banks and the money so generated is being used by them for their industries in others states.

He said that it has become a "trend" and alleged that government and industries instead generating employment for the youth of the state, they are diverting funds to units outside.