3 weeks ago
Bengal plans jobs-led industrial policy to stem skilled worker exodus
Imagine a big region in India called Bengal.
Many of Bengal's smart and hardworking young people are leaving to find jobs in other cities.
The leaders of Bengal want these families to stay and work nearby.
So they are making a new plan, like a recipe, to bring businesses to Bengal.
New businesses would create more jobs for people living there.
The new plan will give rewards to companies that create jobs.
The leaders said the first part of the plan will be ready by August 15.
They want the whole plan finished by October or November.
The leaders also hope businesses that left before will come back.
Then more people can work and live happily in Bengal.
West Bengal is drafting a new industrial policy that shifts incentives towards job creation rather than investment alone.
Finance minister Swapan Dasgupta and industries minister Tapas Roy outlined the plans at separate business events on Friday.
Dasgupta called the state's inherited structure a 'policy desert' and wants to reverse an 'economy based on acceptance of decline.'
The government aims to complete the first policy phase by August 15 and have a full framework by October or November.
Bengal plans employment-linked incentives and hopes to persuade companies that moved operations out of the state to return.
- Who
- West Bengal finance minister Swapan Dasgupta and industries minister Tapas Roy announced the plan on behalf of the state government.
- What
- A new industrial policy with employment-linked incentives to revive investment and stop the exodus of skilled workers.
- Where
- West Bengal, India; the announcements were made at business events in Bangalore and Calcutta.
- When
- Announced on Friday; first phase targeted by August 15 and full policy framework by October or November.
- Why
- To reverse the steady migration of young Bengalis to cities such as Bangalore, Hyderabad and Gurgaon and boost the state's competitiveness.
Key facts
- Government
- West Bengal, India
- Key officials
- Finance minister Swapan Dasgupta; industries minister Tapas Roy
- Policy goal
- Jobs-led industrial revival and stemming skilled worker migration
- First phase target
- August 15
- Policy framework target
- October or November
- Policy areas
- Industry, land, ease of doing business, incentives
- Competitive benchmarks
- Match Odisha; emulate Assam's progress
- Foreign investor interest
- Representatives from several countries met the government
Quotes
Swapan Dasgupta
Finance Minister of Bengal
“"We are working to overhaul the industrial ecosystem by introducing new policies, easing regulations and shifting incentives towards job creation rather than investment alone."”
telegraphindia.com
“"Bengal was planning to introduce incentives linked to employment generation, signalling a policy shift aimed at encouraging industries that create jobs."”
telegraphindia.com
Sources
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