The Opposition parties in Bengal have blamed Chief Minister Mamata Banerjee for the State’s poor investment climate and demanded immediate reversal of her land policy a major hindrance in the way of industrial development of the State.
The RBI and World Bank reports have burrowed a hole in Mamata Government’s claim that Bengal had been making a steady progress in industrialization, said former CPI(M) MP Samik lahiri adding “unless she reins in her goondas, ends the syndicate raj and modifies her land policy no industry will come here and the people of the State will remain unemployed which in turn will continue to give rise to social and law and order problems.”
Pradesh Congress president Adhir Chowdhury said “a State where a large number of ruling party politicians have criminal cases running against them and where extortion is the main source of earning for the political goons no industry will come.” He added: “Mamata Banerjee is not bothered about investment. Her only motto is to cling on to power with the help of goons which she has successfully done.”
According to an RBI study investment in the State had dipped to 1.3 percent of the total investment India received in the year 2014-15. For the previous two years Bengal received 1.4 percent and 1 percent respectively --- pushing it down among five bottom-ranking States in terms of investment.
Among the top five States are Odisha, Maharashtra, Gujarat and Rajasthan.
In 2009-10, 2010-11 and 2011-12 Bengal however had received 2.6, 3.3 and 4.9 percent investment respectively. But that was on account of the policies undertaken by then Chief Minister Buddhadeb Bhattacharjee.
“Though he went from power in May 2011 his Government’s policies continued to bear fruit for a year after him after which things dipped with a corresponding rise in political lumpenism and what they call syndicate raj,” said an ISI professor adding the new Government’s anti-land acquisition policy worked as big hindrance in rapid decline in investment.
In a World Bank report Bengal finds itself in the eleventh position as a preferred industrial destination.
Curiously the reports belie a recent claim made by State Finance Minister Amit Mitra who said the State had received an investment of `86,000 crore.
“Bengal had to suffer in the hands of the left for three decades. But things worsened during the new regime with its no-land-acquisition policy. Besides the syndicates run by the goons under political patronage have also harmed the industry. They work as a pressure group extorting money, creating labour problems. The general slump in law and order problem has also hit investment hard” says Suman Mukherjee economist adding even the 1.3 percent investment might have come through real estate development.
Former Finance Minister Dr Asim Dasgupta concurs with Mukherjee. “lumpens are ruling the State. Extortion, political clashes, nepotism have eaten into the vitals of the State’s economy.”