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Bonhomie at Bengal business meet, Jaitley Mamata share dais

Speaking at the West Bengal Global Business Summit, organised by Mamata Banerjee-led Trinamool Congress government here, the Union Finance Minister also said that India will grow if all states grow collectively. West Bengal will benefit from reform measures such as coal block auctions and GST implementation, initiated by the central government, he added.

In an apparent reference to political differences between BJP and TMC, Jaitley said there are national causes to stand together, notwithstanding political differences. “I am here to assure you that central government strongly stands behind the state governments in order to support each one of the rupees and dollars that you invest in the state,” the Finance Minister said.

He said India has a strong federal structure and it is the duty of both the Centre and the States to work together to achieve the common national goal. The Finance Minister also said that no State in the country would be allowed to suffer loss of revenue once the Goods and Services Tax, GST, comes into effect. Jaitley added that in case there is a loss of revenue to the states because of GST, the Centre would compensate the states.

In a rare show of bonhomie with the Centre, West Bengal Chief Minister Mamata Banerjee, in her welcome address highlighted the industrial and business potential of West Bengal. She pointed out that West Bengal has been growing at a faster rate than the national average. Business delegations from 16 countries and from all over India are participating in the two day event.

On the first day of West Bengal Global Business Summit, investors committed Rs 41,600 crore in ports sector, while Rs 12,000 crore has been pledged for mining projects. Another Rs 40,000 crore investment pledge came from SAIL.
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