Bengal govt revokes old incentive schemes to formulate modern one to set up industries

Kolkata, Mar 19 (PTI) The West Bengal government has revoked eight incentive schemes for heavy industries, which were launched during the 1993-2013 period, and will formulate a modern one to encourage setting up of industrial units, Chief Minister Mamata Banerjee said in the assembly.
    Taking part in a discussion on the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Bill, Banerjee said that the situation changed a lot in the last 20-25 years and some of the incentives introduced by the erstwhile Left Front government had become "irrelevant" and were withdrawn.
    "Now, various works are being done on AI technology. Many new ideas and approaches have been added to the industry. Therefore, a new policy is being brought with the opinions of all concerned," Banerjee said.
    A committee has been formed under the leadership of the chief secretary to consider what needs to be included in the preparation of a modern scheme, she said, adding that the committee will give its opinion within a month and accordingly a modern scheme will be prepared.
    The chief minister also claimed that the government is suffering "not only from the burden of debt imposed by the previous Left Front government" but also from the "consequences of various unsustainable policies".

(This story has not been edited by THE WEEK and is auto-generated from PTI)