West Bengal to create land banks for investors under new policy
Chief Minister Suvendu Adhikari unveiled an Investment Promotion Policy to support industrialisation and job creation.
West Bengal Chief Minister Suvendu Adhikari unveiled a new Investment Promotion Policy on Thursday, promising to create land banks for investors. According to Moneycontrol, the Chief Minister stated the government would avoid both the Left Front's forcible land acquisition and the Trinamool Congress (TMC) approach of requiring industries to buy land without government assistance.
The new policy aims to draw in new capital, speed up industrial growth, and produce jobs by providing incentives. It will focus on employment and investment in areas that are less industrialised, offering more help to priority sectors and providing set timelines for payments and approvals.
A senior official told The Telegraph that the state may buy plots directly from landowners to transfer to companies. While the government will also assist companies in direct purchases, a separate policy regarding compensation and rehabilitation is expected to be released later.
Adhikari accused the CPI(M) of damaging the state's industrial base through trade union politics. He also alleged that the TMC's land policy contributed to industrial failure over the last 15 years and claimed nearly Rs 20,000 crore of state revenue was siphoned off by the previous regime.
The Chief Minister said the government has a zero-tolerance policy regarding extortion and follows a 'Na khaunga, na khane dunga' approach to corruption. He asserted that strict action would be taken against anyone involved in such activities.
The industrial incentive policy was expected to be unveiled on November 5, with the specific land policy to follow later.