West Bengal to announce new industrial policy on Thursday
The policy aims to improve the ease of doing business and may include new incentives for investors.
West Bengal Chief Minister Suvendu Adhikari will announce a new industrial policy on Thursday afternoon following an administrative review meeting at the Nabanna state secretariat, according to The Hawk.
The policy focuses on improving the ease of doing business by streamlining approvals and reducing government regulations for investment proposals.
State secretariat insiders told The Hawk that the plan includes a structured incentive policy for investors, which was removed during the previous Mamata Banerjee-led Trinamool Congress administration.
A state government official said proposed incentives could include electricity tariff waivers during initial operations, the state covering a portion of loan interest, and reimbursement of employee provident fund contributions.
The policy aims to attract investment to backward areas to support socio-economic development, according to sources in the West Bengal Industrial Development Corporation (WBIDC).
The draft policy, which was cleared by the state cabinet on October 28, was developed with input from ministers, industry associations, and economic experts.