Of MoUs worth Rs 45L cr, projects of Rs 4L cr already running: Khanna

Lucknow: Approximately 9% of the total MoUs signed during the investors summit have become a reality as productions have started in such units, UP finance and parliamentary affairs minister Suresh Khanna said."Of the total over Rs 45 lakh crore MoUs, projects worth Rs 4 lakh crore have already hit the ground," he said.
Khanna was replying to a supplementary query raised by Machhlishahr MLA Ragini Sonker during the Question Hour on Thursday.Khanna said that there were three stages of investments which included signing of MoU as the first stage. "Once the MoU is signed, the businessman or the investor analyses the situation and the atmosphere in the state along with the viability of the project where he plans to invest," he said."Once the investor is satisfied with all the aspects, the second stage is the groundbreaking ceremony. Any proposal reaches this stage only after the investor is almost ready. Projects worth approximately Rs 12.09 lakh crore have reached the groundbreaking stage," Khanna said."It is after this that the proposals turn into reality and production begins," he said."There is other data which also point towards the fact that new units have been set up. According to EPFO record, in 2017-18, there were around 21.24 lakh members. However, the same has reached 40.2 lakh members thus proving that more people have been absorbed in jobs," he said.Khanna had to intervene after industry minister Nand Gopal Gupta Nandi indulged in a heated debate with Ragini Sonker with SP members seeking protection from Speaker Satish Mahana claiming that instead of replying to the supplementary, the industry minister was diverting the issue and was getting engaged in heated discussions.