Now Reading: Bengal has become a city of pensioners, says FM Swapan Dasgupta
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Bengal has become a city of pensioners, says FM Swapan Dasgupta
West Bengal Finance Minister Swapan Dasgupta said the state faces a massive skill shortage after five decades of uninterrupted economic decline, leaving Kolkata a 'city of old age pensioners'. In an exclusive…
West Bengal Finance Minister Swapan Dasgupta said the state faces a massive skill shortage after five decades of uninterrupted economic decline, leaving Kolkata a 'city of old age pensioners'. In an exclusive conversation with Business Today at its India@100 event, Dasgupta noted that young people have left in large numbers for Bangalore, Gurugram, Noida and overseas.
Dasgupta traced Bengal's decline to labour militancy from the 1960s and the Tata Group's exit from Singur. He said the message sent to the business world was that if the Tatas could not operate in Bengal, no one could. The BJP formed its first government in May this year, ending Mamata Banerjee's 15-year rule, and Dasgupta took charge of the finance portfolio.
The finance minister acknowledged the state cannot recreate its historical past, when Murshidabad was a global silk centre accounting for 20% of world GDP. He instead outlined a revival plan focused on manufacturing, services and deep tech. Asked about expectations of a rapid turnaround, Dasgupta said: 'You have to, you can't get miracles.'
Indian Opinion Analysis
West Bengal has the third-largest economy among Indian states, but its per capita income has lagged behind the national average for over a decade. The state's share of national gross domestic product (GDP) fell from about 10% in 1960 to roughly 6% today. The key challenge for the BJP government is reversing out-migration of skilled workers, an estimated 1.5 lakh Bengalis leave the state each year for jobs elsewhere. The next test of sentiment will come when Dasgupta presents his first full budget in February 2026, where allocations for industry and skilling will signal whether the rhetoric translates into policy.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
