West Bengal’s economy seems to be doing much better under the Trinamool Congress ruled state Government than the one preceding it, says economist Abhirup Sircar, also the Chairman of the West Bengal Infrastructure Development Finance Corporation(WBIDFC).
The per capita income of Bengal is growing at a faster rate than before as per latest RBI reports, says Sircar.
“Though the unorganized and unregistered sector is doing much better than the organized or the manufacturing sector in the state, the overall picture is better than how Bengal fared during the CPI(M) regime”, Sircar told Millennium Post.
In terms of infrastructure, which in turn improves investment potential, Bengal has progressed reasonably well, he says.
“There are six new state highways that will facilitate road movement quite a bit. These are being taken up by the state highway authority of India. One example is the Siliguri-Jalpaiguri highway that was in a dismal state but is now a dream drive”, Sircar explains. Some of the projects are being funded by the WBIDFC.
Apart from this rural electrification has vastly improved, he points out.
“Perception about the state’s infrastructure is also changing. Electrification, better roads and a swanky airport(after modernistion) in Kolkata are positive indicators of development,” he said.
“Infrastructure, being the single most important pre-requisite for industrialisation, seems to be occupying a central place in the agenda of economic development of West Bengal at this important juncture of history,” he said earlier.
Interestingly, Sircar feels that decentralisation has also taken place in Bengal and with it, distribution of funds has improved.
“Earlier, during the Left Front rule, panchayats and municipalities were not just dominated by the ruling party but also fund allocation used to be haphazard. Now, projects are moving faster in the rural sector”, he explained.
The state is also doing well in the utilization of Central Government rural employment schemes like MNREGA, said Sircar.