40% of total investments in country comes to Gujarat: Vijay Rupani

Gandhinagar: Gujarat Chief Minister Vijay Rupani on Tuesday claimed 40 per cent of the total investments being made in the country were coming to his state.

He congratulated Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for reducing the corporate tax, and said it will boost the economy and bring more investments to Gujarat.

"The reduction in corporate tax will benefit more companies of Gujarat," he said at a press conference here.

"At present, out of the total new investment in the country, 40 per cent of it comes to Gujarat, this is the official figure," Rupani said. He, however, did not give any detailed figures.

The government has decided to provide financial help to the stalled construction projects and also asked banks not to declare borrowings by Micro, Small and Medium Enterprises (MSMEs) as NPAs (non-performing assets) till a certain time, he noted.

"These steps will lead to long term revival of the economy. The steps taken by the government prove that it is positively inclined to take decisions that will lead the country on the path of development," Rupani said.

"Business and industry in Gujarat will be positively benefited by these steps. Gujarat expects new investment to come in the state after these announcements and is ready for it. It will also create job opportunities for youth," he said.

The chief minister said his government has also taken several decisions to boost the economy.