Kolkata, Nov. 6 -- The BJP government has unveiled a Rs 5,000-crore investment war chest to give Bengal's industrial ambitions a major push, rolling out a new incentive framework built around cluster-based development.
Sources said the Suvendu Adhikari government has earmarked Rs 5,000 crore to draw fresh investments and accelerate industrial expansion.
The incentive package offers a basket of incentives to eligible projects, including reimbursement of stamp duty, waiver of electricity duty, dedicated power supply, relaxation in floor area ratio (FAR) norms and fast-tracked clearances. The government hopes the incentives will make Bengal a more attractive destination for investors.
An incentive scheme is a system through which an organisation, company or government provides additional financial rewards to employees, businesses or manufacturers for good performance, higher production or achieving specific targets.
Chief Minister Suvendu Adhikari had sought to attract industrialists by highlighting the importance of the incentive scheme.
"We cannot deny the fact that the previous government introduced certain initiatives. Had they provided incentives every year, this situation would not have arisen. The previous government cheated everyone. If they had provided incentives of Rs 7,000 to Rs 8,000 every year, this problem would not have occurred," Adhikari had said earlier. He had alleged that the Mamata Banerjee government discontinued this scheme. State Finance minister Swapan Dasgupta said that around Rs 5,000 crore has been allocated for this purpose. However, the major expenditure is likely to begin from the next financial year, he added.
"One of Bengal's biggest problems is that there is currently a negative perception about the state outside Bengal. People from other states think that nothing happens in Bengal anymore and that it has become a place of unrest. We have to remain concerned about areas where extortion is still taking place and where factional conflicts continue. We have brought much of the situation under control, but we have not been able to completely resolve these issues yet," Dasgupta stated.
Chief Minister Adhikari on Thursday unveiled a new industrial policy promising government-backed land banks, employment-linked subsidies and time-bound clearances to attract investment.
Addressing a gathering on the occasion, Adhikari said the outstanding incentive liability inherited from the previous government was nearly Rs 50,000 crore, beyond the state's present financial capacity.
The government would honour commitments falling due after May 9, 2026, but could not immediately clear the accumulated backlog.
Meanwhile, inaugurating several Kali pujas, West Bengal Chief Minister Suvendu Adhikari promised to complete the process of granting citizenship to all eligible applicants under the CAA by December 31.
"All eligible applications under the CAA will be disposed of by December 31. No eligible applicant will be left out, and citizenship certificates will be issued within the stipulated period," he said.
The Chief Minister said his government had taken responsibility for expediting the process and initiated administrative steps to clear the backlog.
"District magistrates had undergone training through the Home Department, while sub-divisional officers (SDOs) would supervise verification of applications and conduct hearings to ensure their timely disposal," he said.
Published by HT Digital Content Services with permission from Millennium Post.