Economy

Bengal vows to woo investment with ‘proper infrastructure'

| Updated on: Jul 02, 2011
image caption

To ensure speedy single window clearances to set up industries

The West Bengal Government on Saturday reiterated its stand to woo investment by putting in place “proper infrastructure” but without any involvement in land acquisition.

Speaking at the FICCI executive committee meeting organised here, the State Commerce and Industry Minister, Mr Partha Chatterjee, claimed that the Mamata Banerjee-led Government would ensure a “smoother passage” for industry in terms of speedy single window clearances.

“Why only land? Infrastructure, connectivity and logistics are also crucial issues that need to be addressed,” Mr Chatterjee told FICCI members and industry captains.

The hesitation and confusion among the industrialists on the direct purchase of land in Bengal, however, remained far from being sorted out. Questions were raised yet again. This is the second time in as many meetings with the industry captains that the question (on land acquisition) has come up for the State Government.

Mr M.K. Jalan of Keventer insisted that the government should have a role to play in availing land for industry. Calling for an amendment in the Land Ceiling Act, he maintained that it was not possible for industrialists to purchase large tracts of land directly, under the existing provisions of the Act.

Except an appeal to move to “backward districts” of the State for setting up industries and a confession that the State Government was “studying suggestions from various chambers of commerce”, Mr Chatterjee's arguments failed to change the mood of the industry on land acquisition.

STATE FINANCES

Meanwhile, making his best efforts to instill confidence about the State finances, the State Finance Minister, Mr Amit Mitra, said that a 30 per cent growth in tax revenues was expected to take place during the current fiscal.

While the State was placed for a 14 per cent overall growth, attempts were on to bring down revenue expenditure to 120 per cent of the total revenue from the existing 134 per cent. The planned expenditure during the fiscal will also go up to 24 per cent from the existing 18 per cent.

Published on July 02, 2011

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