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Mamata Banerjee to pursue mixed economy model in West Bengal

Posted by on May 16, 2011 0 Comment

Kolkata: Mamata Banerjee is likely to pursue a mixed economic model as she ventures to reconstruct a state in a deep financial mess. There will be a dash of socialism and sprinkling of capitalism motifs. Maximum priority will be given on growth in both farm and manufacturing sectors.

Amixed economy nurtures a market economy with strong regulatory control. It also has a variety of government sponsored schemes. Mamata, who rode on the success of one of the most protracted land battles in recent times to win the election, has quite expectedly promised steps to raise the state’s agricultural productivity by focusing on agro research and improving farm mechanisation.

The chief minister-in-waiting has also promised to usher in quantum private investment in engineering, steel, tea, jute, textiles and food processing and to revive a chunk of the 58,000 closed but prospective industrial units. She plans to free the state’s small-scale sector from inspection raj, which according to Trinamool Congress , had restricted its growth. “It can safely be assumed that Banerjee will follow a people-centric hybrid economic model. However, the focus will be focus on overall growth,” a source in Trinamool said. In her avatar as railway minister, she has carefully nurtured a propoor image but this did not stop her from inviting private investment for railway development projects..

“We will attract large private investments in engineering, tea, jute, manufacturing and in all the fields which require such investments. We will focus on MSME and labour-intensive sectors to generate employment,” Banerjee had told ETon May 13.

Trinamool has prepared a vision document on how the new government should rebuild the state, which over the past 34 years had been abused by an Alimuddin Street-controlled administration and decayed in every respect, be it social sectors like health and education or economic parameters like industrialisation and farm productivity. The vision statement will serve as the Bible for the new ministers after the Banerjee government takes oath possibly on May 18.

In the health and education sector, Banerjee plans strong government control. She has proposed a hub-and-spoke model in healthcare by connecting sub centres, primary health centres, district hospitals and super speciality hospitals in Kolkata. In education, she plans to overhaul the vocational programmes with emphasis on industrial training institutes to train industrial labour and improve their employability.

The populist leader as she is known to the world, quite expectedly plans special focus on labour intensive sectors such as textiles, apparel, leather, jute, tea, handicrafts, gems & jewellery and agrobased industries. Economic Times

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