West Bengal may regain its glory by adopting an investment friendly policy: Jaitley

Addressing the inaugural session of the Bengal Global Business Summit 2016, the minister said the world today is passing through a critical situation in which the World Bank adjusted the global growth rate yesterday to 2.9 per cent only.

Referring to India he said, the country is fighting to improve its growth rate in spite of the external factors. Claiming that India is one the fastest growing economies in the world today, Jaitley said if we could manage to achieve a growth rate of 1 – 1.5 % more, it would give us a cutting age.

He appreciated the West Bengal government for adopting an investment friendly policy and said that this summit is much more than a ritualistic event.

Congratulating the West Bengal government for organizing this Global Summit for the second consecutive year, Jaitley said West Bengal is known for its agriculture and there are natural resources as well. Bengal has intellect and it is known for its sharp mind and if it now attracts investment, it can regain its past glory.

He, however, stressed on the need to enhance public spending in the rural sectors including irrigation, rural roads, infrastructure etc. and added that the Centre is following a policy of empowering the states.

The Union Minister of Railways Suresh Prabhakar Prabhu said if all the 29 states improve at the same pace, it will help India to grow at such an enviable pace that is worth mentioning. Praising West Bengal not only for its rich natural resources, but for its abundance of water, the Minister asserted that the state can easily become a gateway to East and South Asia.