The Telegraph
Sunday , July 13 , 2014
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Bengal to ease norms to lure industry

Calcutta, July 12: Bengal is expected to relax policy norms to attract fresh investment in industry.

Striving to shrug off its anti-industry tag, Bengal industries minister Amit Mitra today said his focus would be on reducing the documentation process required to start a new business to three pages.

The Trinamul-led Bengal government has already brought down the required number of pages from 99 to seven.

Mitra said an integrated financial management system was being planned to put in place a technology-backed mechanism to track monetary movements in government coffers. Mitra was speaking at a session on resurgence of industry in Bengal organised by the MCC Chamber of Commerce & Industry.

“Industry wants ease of doing business and lowering of transaction costs. The integrated financial management system will be ready in three to four months and every rupee of the government will be caught in the system. I am now pushing for three pages of documentation to start new businesses. We have 3,000 acres available with the WBIDC and WBIIDC to offer,” he said.

The state’s tax revenue receipts in 2014-15 is expected to be Rs 45,413 crore against Rs 21,128 crore in 2010-11. Close to Rs 28,000 crore will be drained out of the state treasury by way of central debt and interest servicing, Mitra said.

Mitra said his government’s demand to get this central debt waived was legitimate.

Mitra took the opportunity to parade six companies whose projects were in various stages of implementation and also discussed some fresh proposals. The projects are worth Rs 4,600 crore in total.

The Shakambhari Gagan Group will pump in Rs 851.68 crore in Madandih, Purulia, under Shakambhari Ispat & Power, to set up an integrated steel plant and captive power plant.

The project will comprise a 600-tonnes-per-day (tpd) rolling mill, a 500 tpd induction furnace, 200 tpd pig iron unit, a coal washery, a 700 tpd sponge iron unit and a 37MW captive power plant. It has already acquired 175 acres and has applied for clearances under 14Y for holding land beyond the ceiling.

Calcutta-registered UAL will set up an autoclaved aerated concrete block manufacturing unit in Bagnan, Howrah. The estimated cost of the project is close to Rs 96.47 crore.

The Emami Group will invest Rs 500 each in a cement grinding and captive power unit in Raghunathpur, Purulia and a hospital and nursing college in Rajarhat.

Shyam Infra, Vikram Solar and Utkarsh Tubes & Pipes plan to pump in Rs 2,000 crore, Rs 500 crore and Rs 152.67 crore, respectively.