1 week ago
West Bengal Extends Deadline for New Industrial Policy Announcement
West Bengal’s government is taking more time to prepare a new plan for industries.
The plan was supposed to be announced by August 15, but it is now expected between September 15 and 17.
Officials say they first need to decide how land will be handled.
They also need rules for judging new factory and business proposals.
These rules may consider how many jobs a project can create.
They may also consider whether smaller supporting businesses can benefit.
The finance minister said the government wants to avoid promises that cannot be kept.
He also said the state’s large debt is an important problem for the government.
West Bengal has extended the deadline for announcing its new industrial policy from August 15 to September 15–17.
Finance Minister Swapan Dasgupta said the policy requires finalising a new land policy and a system for reviewing industrial proposals.
The government will assess proposals based partly on employment generation and opportunities for ancillary industries.
Dasgupta said the policy would avoid unrealistic promises and seek to prevent projects from being halted midway.
He said the state’s inherited debt of more than Rs 8,00,000 crore is a major concern for the BJP-led government.
- Who
- West Bengal Finance Minister Swapan Dasgupta and the BJP-led state government.
- What
- The deadline for announcing West Bengal’s new industrial policy has been extended by about one month.
- Where
- At a meeting of the West Bengal Business Council at the Bangla Global Convention Centre in Kolkata.
- When
- The announcement was initially planned for August 15 and is now targeted for September 15–17; the statement was made on a Saturday.
- Why
- More time is needed to finalise land policy and rules for evaluating industrial proposals, including their employment and ancillary-industry potential.
Key facts
- New target announcement window
- September 15–17
- Original deadline
- August 15
- Policy priorities
- A new land policy and a framework for reviewing industrial proposals
- Proposal considerations
- Employment generation and opportunities for ancillary industries
- Government objective
- Make West Bengal more industry-friendly
- Debt concern
- More than Rs 8,00,000 crore in inherited state debt
- Terminology used
- The report refers to the planned measure as both a new industrial policy and a new trade policy
Quotes
Swapan Dasgupta
West Bengal finance minister
“After the change of government, the new state government's goal is to make West Bengal an industry-friendly state. Therefore, it was decided that the new trade policy would be decided within a month. However, it is no longer possible in August. The trade policy will be prepared by September.”
thehansindia.com
“Initially, we planned to announce the new industrial policy by August 15. But it is a very complicated situation. We are trying to announce that policy between September 15 and September 17.”
thehansindia.com
Sources
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