Bengal Inc lauds state budget for 2025-26

Kolkata, Feb 12 (PTI) Leading industry bodies on Wednesday welcomed the West Bengal budget 2025-26, lauding its focus on MSMEs, infrastructure development, climate resilience, and social welfare.

Business chambers have termed the budget progressive and forward-looking, with allocations aimed at boosting economic growth and employment.

The Bengal Chamber of Commerce & Industry (BCC&I) highlighted the state's 7.3 per cent industrial growth, which is substantially higher than the national average of 6.2 per cent.

Vivek Jalan, Chairperson of BCC&I's National Fiscal Affairs and Taxation Committee, noted that West Bengal ranks second in the country in terms of MSME presence, contributing 10 per cent to the sector.

The budget's Rs 1,229 crore allocation for MSMEs is expected to provide a further boost to small businesses.

The Indian Chamber of Commerce (ICC) DG Rajeev Singh praised the budget for its emphasis on infrastructure creation, climate adaptation, social empowerment, and rejuvenation of the tea industry.

A 4 per cent DA hike for state government employees is expected to boost purchasing power and drive consumer demand, while the Rs 500 crore allocation for Gangasagar bridge is anticipated to turn the pilgrimage site into a major tourism hub, creating employment opportunities.

Recognising West Bengal's ecological sensitivity, the ICC appreciated the Rs 200 crore allocation for the Nodi Bandhan scheme and Rs 500 crore for the Ghatal Master Plan, a mega project to dredge riverbeds and strengthen embankments of at least 10 major rivers in the state, which aims to address climate resilience and flood mitigation.

The budget's extension of the state tax waiver on income from tea production for another year will support the GI-tagged Darjeeling tea industry and enhance export potential.

Additionally, allocations for road construction scheme 'Pathasree' (Rs 1,500 crore) and housing scheme 'Banglar Bari' (Rs 9,600 crore) are expected to rejuvenate the employment-generating real estate sector and create housing for marginalized communities.

NG Khaitan, President of Bharat Chamber of Commerce (BCC), described the budget as pro-people, pragmatic, and forward-looking, emphasising inclusive growth, rural development, education, and healthcare.

He welcomed the focus on skill development, employment generation, and MSME support, calling it a commitment to economic resilience.

The government's push for infrastructure expansion and digital transformation reflects a clear vision for socioeconomic progress, he added.

Khaitan particularly praised the State Level Invest Synergy Committee for simplifying clearance processes for industrial projects.

He emphasised that hassle-free land allocation for proposed economic corridors would make West Bengal an attractive investment destination.

Additionally, he lauded the state's procurement of 'Made-in-West Bengal' products, which supports indigenous manufacturers, especially MSMEs.

Khaitan also noted that increased purchasing power in rural and semi-urban areas would boost economic activity, while improved religious tourism infrastructure would help showcase Bengal's cultural heritage globally. PTI BSM/dc NN

Source: PTI