West Bengal has managed to convert Rs 86,425 crore worth of commitments into actual investments during the past four years, Amit Mitra, the state finance minister claims.
In a bid to hard-sell his state in a road show organised at FICCI in Delhi on Monday, Mitra, who also holds charge for excise, commerce, industries, public enterprises, industrial reconstruction, IT and electronics said these projects have either been implemented already or are under various stages of implementation.
The investments are in sectors such as infrastructure, food processing, and energy among others.
The state, which saw four of its cities-Haldia, Durgapur, Bibhanagar and New Town-win the first round of Smart City challenge of the central government, is expecting massive IT infrastructure development in these cities. Mitra also invited investments in the six theme-based green cities that are being developed by the State. While one city will focus only on health and education services, another will be purely into financial services. An industrial township has also been planned to promote manufacturing sector. Art and culture, analytics (next generation IT) and a senior citizen-focused township will be the other ones. says Mitra.
According to Mitra, the current government, which replaced the decades old Left front rule in the state, has increased public investments in all key areas of economic development. "The state plan expenditure has gone by 311 per cent from Rs 14,165 crore to Rs 44,700 crore. There has been a six-fold increase in social infrastructure. Physical infrastructure such as roads and flyovers have seen 330 per cent growth in expenditure. Investments in creating capital assets grew 601 per cent and is a record", he claimed.
In fact, the state GDP has been steadily growing ever since the new government took over four years ago. The growth rate, which was 18.6 per cent in 2009-10, however, declined to 13.32 per cent in 2014-15.
The state government is planning to organise a Bengal Global Business Summit 2016 early next year. The FICCI road show was the first to promote the event.