MUMBAI: The West Bengal government, which is aiming for faster growth and development, is seeking private sector investment by holding a Bengal Global Business Summit on Jan 7-8.
Speaking to reporters, Finance minister Amit Mitra said the state had done well under development parameters, including increasing capital expenditure by a whopping 103 per cent in 2013-14; 65 per cent in 2012-13 and 24 per cent in 2011-12, compared with a negative 26 per cent growth during 2010-11. About `83,212 crore of investments was under way.
Once described by the 13th Finance Commission as a leading debt ridden state along with Kerala and Punjab, West Bengal has reduced its fiscal deficit to 3.08 per cent in year to March 2014, from 4.12 per cent in 2010-11.
Revenue deficit fell to 1.7 per cent of the state gross domestic product in 2013-14 from 3.65 per cent in 2010-11.
Mitra refuted queries that the state faced negative business perception, saying several business houses had invested in the state.
He also clarified that the business summit had been planned months in advance and had nothing to do Vibrant Gujarat, or ones by other states.
The state is hoping to attract investments in sectors including urban infrastructure and housing, IT, food processing, MSME and textiles, healthcare, manufacturing, infrastructure, hospitality and financial services.