Jagadish Shettar plays down economic slowdown as ‘temporary phenomenon’

BENGALURU: Industries minister Jagadish Shettar on Tuesday said he has sought a report from officials on effects of economic slowdown in the state, even as he sought to play it down it as a “temporary” phenomenon, while defending the Union government headed by Prime Minister Narendra Modi.

He told the media here the principal secretary has been asked to submit a report, adding “I have told our officers during the recent meeting to give a report, in the backdrop of discussions and reports in the media (about slowdown)”.

Mr Shettar said “overall in the state how many industries are there? what is happening there? Has any industry become sick or any job cutting or retrenchment or removing employees on contract basis taken place in the state due to recent recession? I have asked for a report in this regard. Our principal secretary has been asked to prepare a report. In about 15 days, I may get that report”.

Former Prime Minister Manmohan Singh had recently termed the state of the economy in the country “deeply worrying”, and said the “all-round mismanagement” by the Modi government was responsible for the slowdown. Responding to a question about effects of recession and economic slowdown, Mr Shettar said “the recession is for time being, it will not last long. Central government is taking several steps to control it by giving some concessions..with the Modi government coming to power, industrialisation, startups, skill development is getting priority”. Shettar said, after taking charge as minister last week, he held discussions with senior officials of the department and took update from them about the functioning. Noting that the new Industrial policy was getting ready as the current one would end by November-December, the minister said, the draft was getting finalised. “..Everything has become Bengaluru centric today, they have to go to tier two cities like Vijayapura, Bagalkot, Belagavi, Hubballi-Dharwad, Davangere, Kalaburagi among others.”