Investments, IT to boost SDP to 8%

The government of West Bengal said the state domestic product growth will be at 8 per cent in 2005-06 from 7.3 per cent in 2004-05 and promised to create six lakh new jobs.

Presenting the report on the state's economy at the Budget session of the Assembly today, state finance minister Asim Dasgupta said 4560 industrial projects involving investment of Rs 7593 crore is expected to be implemented.

In the information technology sector, the state has stepped up investments to build infrastructure and these are expected to bear fruit in the year "so that flow of investment to the sector is not constrained", said the government.

Significant private investments in the IT sector will further growth in the sector, it added.

Capturing the retail boom in the state, the government said commercial activities are expected to expand significantly while real estate development is set for further acceleration with a number of projects being flagged off in the year.

In 2004, the state saw 172 projects involving Rs 2044 crore of investments being implemented, and as many as 66 more projects involving investment of more than Rs 25 crore are expected to be commissioned.

In all, projects worth Rs 8309 crore carried over from 2004 will be implemented.

In the agriculture sector, the jute crop is expected to decline owing to fall in area under jute but the production of oilseeds and potato will rise to compensate for the loss.

The output of pulses and wheat will increase significantly to take total foodgrains production to a record level in the financial year 2004-05, said the government.

Aman rice production, for example, is expected to surpass the record level of 100 lakh tonnes achieved in 2001-02, with yield at 2500 kg per hectare (ha.) while the boro rice crop will also be considerably higher.

The combination of a record rice crop and rise in non-food crops will result in record agricultural production in 2004-05.