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At the heart of the government’s pitch is a promise to restore confidence among businesses wary of investing in the state & young Bengalis looking for opportunities closer to home
Finance Minister Swapan Dasgupta presents BJP’s first Bengal budget. (PTI)
The BJP government’s first full budget in West Bengal is as much a political statement as it is an economic roadmap. Presented amid high expectations following the party’s ascent to power, the budget seeks to address some of Bengal’s most persistent challenges—sluggish industrial growth, outmigration of young talent, investor hesitancy and a mounting debt burden.
At the heart of the government’s pitch is a promise to restore confidence: confidence among businesses wary of investing in the state, among young Bengalis looking for opportunities closer to home, and among citizens who feel Bengal has fallen behind its potential. The budget pairs economic proposals such as a strengthened single-window clearance system and action against the syndicate culture with a broader emphasis on governance reforms and regional development.
In an exclusive conversation with News18, finance minister Swapan Dasgupta explains the thinking behind the government’s first budget, the strategy for attracting investment, tackling corruption and reviving North Bengal, as well as the ideological vision underpinning initiatives such as the Syama Prasad Mookerjee holiday and the proposed Vande Mataram Museum.
Edited Excerpts
What was the core goal behind this budget?
Every budget reflects the aspirations of the people who elected a government. People have voted for us with great expectations. We believe Bengal’s economic and institutional foundations have been severely damaged over the years. Education has suffered, young people have been forced to leave the state in search of opportunities, and investor confidence has eroded.
The perception problem is real. Many people still recall that if a company like Tata could not continue its project in Singur, it sent a negative signal to potential investors. As a result, industrial growth did not take off. This budget seeks to address those concerns and restore confidence among citizens and investors alike.
The budget proposes a strengthened single-window clearance mechanism. How will it work?
We are committed to making it effective in the true sense of the term. Businesses have often complained that obtaining approvals—from fire licences to various regulatory clearances—involved delays and corruption.
Before the budget, I visited Asansol, where entrepreneurs told me they had to spend enormous amounts of money merely to secure a fire licence. That system has to change. Our goal is that if someone wants to establish an industry, all required clearances should be processed within a month through a transparent and accountable system.
You have announced legal measures against the syndicate system. How serious is the government about this?
We are extremely serious. The proposed legislation demonstrates how committed we are to attracting investment and ensuring zero tolerance towards syndicate practices.
Industrialists need confidence that they can operate without intimidation or unofficial costs. We believe the syndicate culture severely damaged Bengal’s economic prospects and undermined investor confidence. Through legal and administrative measures, we intend to address that challenge decisively.
West Bengal carries a significant debt burden. How will the government finance its ambitious plans?
That is a legitimate question. Our view is that financial resources were not reaching their intended destinations because of corruption and inefficiencies. We intend to improve governance and ensure that the state receives the benefits available under various central schemes.
Better coordination, transparency and fiscal discipline will help unlock resources that were previously underutilised.
How do you plan to attract additional investment and funding into the state?
We are engaging continuously with the Union government and key stakeholders. I am personally meeting central leaders and, if required, will continue doing so regularly. The chief minister is also in frequent communication with them.
At the same time, I have taken it upon myself to promote Bengal as an investment destination. In a sense, I have become a salesman for the state. We want investors from across India and beyond to come to Bengal and participate in its growth story.
The budget places considerable emphasis on North Bengal. Why?
North Bengal has historically been neglected and therefore requires special attention. We believe the region deserves focused development initiatives.
The condition of the tea garden sector and tea workers has been a matter of concern. That is why we have proposed a dedicated Workers’ Welfare Board to address long-standing issues affecting workers and their families.
The budget announces a holiday on Syama Prasad Mookerjee’s birth anniversary and proposes a Vande Mataram Museum. What is the thinking behind these decisions?
Bengal was once the intellectual vanguard of India. We believe there is a need to reconnect with that heritage and revive awareness of important chapters of our history.
The holiday on Syama Prasad Mookerjee’s birth anniversary is intended to acknowledge and remember a historical legacy that, in our view, did not receive adequate recognition. Similarly, the Vande Mataram Museum is part of a broader effort to celebrate Bengal’s contribution to India’s intellectual, cultural and nationalist traditions.
Our objective is to help Bengal rediscover its historical confidence and restore some of the glory that has been lost over time.
About the Author
Kamalika Sengupta is the Editor (East) at CNN-News18 / News18.com, focusing on politics, defence, and women’s issues. She is a seasoned multimedia journalist with over 20 years of experience reporting…Read More
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