West Bengal Should Focus on Investment, Regional Cooperation, Says Finance Minister

West Bengal Finance Minister Swapan Dasgupta has called for greater economic cooperation between West Bengal and neighbouring states, while arguing that the state should avoid adopting the “bulldozer” model associated with Uttar Pradesh.

In an interview, Dasgupta said West Bengal, Odisha, Jharkhand, Assam and Sikkim should work more closely to address shared economic challenges and develop eastern India as a larger economic region. He cited the difficulties faced by tea gardens as one issue that cannot be addressed by individual states in isolation.

On attracting investment, Dasgupta identified electricity costs as an important concern for businesses. He said the state should move towards an open-access power system that would allow industries to purchase electricity from sources outside West Bengal. According to him, Odisha and Jharkhand could supply power to West Bengal, while renewable energy from states such as Rajasthan, Madhya Pradesh and Gujarat could also be transmitted to the state.

The finance minister said cheaper and reliable electricity would be particularly important for attracting data centres, which require large quantities of both power and water. He acknowledged that purchasing electricity from outside the state could affect the profitability of state-owned distribution companies but argued that the broader economic benefits should take priority.

Dasgupta also highlighted the financial challenges inherited by the state. West Bengal has around Rs 18,000 crore in unpaid committed incentives, besides liabilities involving Tata Motors and Haldia Petrochemicals following court proceedings. He said the government would have to consider innovative methods of raising resources, including asset monetisation, while ensuring transparency and public confidence.

On economic priorities, Dasgupta said agriculture would continue to receive attention but argued that services and manufacturing would be the principal drivers of future growth as agriculture’s contribution to the economy declines.

He also welcomed cooperation from the Centre and said access to central schemes and financing from institutions such as the Asian Development Bank and World Bank could support the state’s development plans.

Addressing the political model being discussed for West Bengal, Dasgupta rejected the idea that the state should replicate Uttar Pradesh’s bulldozer approach. He said every state has its own social and political culture and that West Bengal should pursue a model suited to its circumstances. After nearly four months in office, Dasgupta said his experience had reinforced the importance of taking the bureaucracy and different sections of government along while implementing reforms.