The Associated Chambers of Commerce and Industry of India (Assocham) has said that for the next government in West Bengal, the priority areas should be physical and social infrastructure sectors as it will spur economic growth.
“The global economic downturn, tussle between government authorities and farmers over land acquisition besides worsening law and order have impacted economic activity in West Bengal,” said D S Rawat, Assocham secretary.
According to a report on West Bengal by the industry body, the state ranks second in the eastern region’s primary sector with 3.2 per cent cumulative annual growth rate (CAGR) during 2000-01 and 2008-09 compared to Orissa’s 5.3 per cent, Bihar’s 1.6 per cent and Assam’s one per cent.
Meanwhile, in the industrial sector, the state showed an 8.2 per cent CAGR in the same period compared to Assam’s 7.5 per cent, Orissa’s 10.9 per cent and Bihar’s 13.8 per cent.
Regional comparison also shows 7.7 per cent CAGR in West Bengal’s services sector compared to Assam’s 7.3 per cent, Bihar’s 8.2 per cent and Orissa’s 8.7 per cent.
“The state must speed up decision-making on five proposals: steel plants proposed by the Jindal group, the Rs 10,000 crore Durgapur aerotropolis that combines an airport and a business park with the support of Singapore’s Changi Airports International, the Panargarh industrial park in Burdwan district that includes a steel plant, a petrochemical hub in Haldia district and investments information technology sector should be given priority,” Rawat said.
In the irrigation sector, investments have gone up by 206 per cent from Rs 1,170 crore to Rs 3,583 crore during the year to September 2010.
West Bengal has nearly 1,000 live investment projects involving investments of Rs 5.83-lakh crore and half of them are at various stages of implementation. Of these, 39.3 per cent are in manufacturing sector followed by 32.6 per cent in electricity, 19.8 per cent in services and 5.3 per cent in real estate.
