West Bengal chief minister Mamata Banerjee said at the inauguration of India Builds, a conclave of realtors, builders and urban infrastructure developers in Kolkata on Thursday, ‘My heart is with you but my hands are tied.’Blaming the Left Front rule of 35 years for the state's financial doldrums, she stuck to her guns about not doing away with the Urban Land Ceiling Act that limits the amount of land an entity can hold in urban centres in West Bengal. However she said that her govt had reduced the number of mandays lost in a year by minimising strikes.
Banerjee pointed out that due to the state's impoverishment during 35 years of left rule, Bengal could not compete with Gujarat, Mumbai, Delhi and Chennai on many fronts. But, she pointed out, those states and cities had run out of options and Bengal was the place offering opportunities to developers. ‘So, please invest in Bengal,’ she urged.
Earlier, Lalit Kumar Jain, President of the Confederation of Real Estate Developers Association of India (CREDAI) had cited three major problems about investing in Bengal - the tax structure, administrative delays in clearing proposals and the Urban Land Ceiling Act. This Act has been cited by may industries as the biggest stumbling block for development.
Banerjee pointed out that due to the state's impoverishment during 35 years of left rule, Bengal could not compete with Gujarat, Mumbai, Delhi and Chennai on many fronts. But, she pointed out, those states and cities had run out of options and Bengal was the place offering opportunities to developers. ‘So, please invest in Bengal,’ she urged.
Earlier, Lalit Kumar Jain, President of the Confederation of Real Estate Developers Association of India (CREDAI) had cited three major problems about investing in Bengal - the tax structure, administrative delays in clearing proposals and the Urban Land Ceiling Act. This Act has been cited by may industries as the biggest stumbling block for development.