'Mamata's move to quit UPA won't impact investments in Bengal'
Bengal minister says he hopes the central govt won't play politics when it comes to releasing funds for the state
The Mamta Banerjee-led West Bengal government will continue to attract more and more investments and it was committed to protect the interest of investors. This was revealed by Bengal's minister for urban development and municipal affairs Firhad Hakim who spoke to Business Standard on the sidelines of a roadshow for international financial hub at Rajarhat-New Town in Kolkata.
However, Hakim said the government would not adopt "fast" economic policies of Prime Minister Manmohan Singh but implement Nehruvian and Gandhian economics to achieve higher economic growth.
The minister at the outset clarified that Mamta Banerjee's decision to pull out of the UPA-II would not in any way impact the state's efforts to attract investments and take the economy to a higher scale. Besides, the minister said he hoped that the Congress-led UPA II government would not play politics when it comes to releasing necessary funds to the West Bengal government.
"Our government is committed to Ma, Mati, Manoos and aam admi is at the focal point of economic and development policies. There won't be any compromise on these principles. International agencies have projected Kolkata has the third fast emerging investment destination after Mumbai and Delhi and the state government will be proactive in taking all the necessary steps in this regard," the minister noted.
According to Hakim, the state has received investment proposals of Rs 80,000 crore across the sectors during one and half year rule of the Trinamool Congress led government in West Bengal. "We don't see the current slow down will impact investment flows into the state. Instead, we believe this is the best time when there is a economic meltdown and slow growth in the real sector. When economy will improve we will be able to fasten the growth," he opined.
On government's stand on Tata's Nano project, Hakim said the project was finalised during the CPM-led government. "We are with farmers and we will protect their interests. However, I want to clarify here that Tatas are keen to invest especially in mass housing project in West Bengal and we welcome any future investments." he said, adding that Bengal's stand on Tata's Nano project would not dampen the investment flow. Besides, IT majors such as Infosys, Wipro, Cognizant have decided to invest in the state.
On attracting investments in the proposed International Financial Hub, Hakim said initially bids would be called for the acquisition of 25 acres of the total 100 acres land. "Couple of banks and financial institutions have expressed their desire including State Bank of India, United Bank of India to take plots. The applicant needs to have the minimum average turnover of Rs 500 crore for the last three financial years ending March 31, 2011. The offer price of the land plots is Rs 13 crore per acre as one time lease premium," he said. He informed that IL&FS has been the advisor for the project.