Assocham has suggested forming of a Rs 10,000 crore infrastructure development fund for West Bengal. Assocham also offered to prepare a detailed policy framework for realising growth potential of West Bengal.
In a strategy paper for the State released on Monday, the industry body said to facilitate private investments and obtaining support from the Central Government for infrastructure development the State needs to have a separate department. It further said the infrastructure fund be set up jointly by the State and the federal Government.
Assocham felt the State urgently required creating clusters for the manufacturing sector.
It said that the industry body was for “developing infrastructure in West Bengal for reducing the transaction costs of trade”.
Minor ports
It said: “The State must develop minor ports on its coast and connect them to industrial corridors” of the state. West Bengal needed a maritime board, a single-window agency, for development of ports and inland waterways, it said. “The board should form joint ventures with private investors to develop ports and SEZs in the port areas”, the paper suggested.
The State has identified four sites -- Kulpi, Tamralipta, Sagar Island and Digha -- for developing minor ports. It urged formation of special purpose vehicles for road and rail link with hinterland.
It pointed out that the State has not tapped its potential for developing inland waterways networks. “The inland waterways network channel needs renovation”, Assocham said.
Statistics revealed that the share of West Bengal stood at less than one percent of the total subsidy granted from the viability gap funding for infrastructure projects.
Single window agency
Assocham also proposed setting up of a single-window agency with powers to settle the land acquisition issues affecting the investment projects in the State.
Among other suggestions are privatisation of transmission and distribution of power, policy packages for the development of hydro-power, nuclear power, and renewable energy.
The State’s ‘Ganga Heritage River Cruise Project’, a 260 km long river cruise initiative that connects the tourist destinations in seven districts, could be replicated and extended to other areas as examples of public-private partnerships, Assocham said.
It suggested that state-level development finance institutions to help SMEs. It also felt the State needed to reform coal sector like in Karnataka and Kerala in which blocks are allotted for captive mining to steel industries.