Kolkata might overtake Mumbai as country’s financial hub during the next few years: Amit Mitra

Cyber Journal 24, September 18, 2015

By Nitten Gokhaley 

West Bengal’s finance minister Amit Mitra recently interacted with journalists and shared some interesting details about WB’s under development town called- Rajarhat. The new town is located near Kolkata, and it is being looked at as state’s upcoming financial hub.


Amit Mitra

Amit Mitra shared the information that 19 banks have already purchased land in Rajarhat. Plus, the SBI is also building new training center for the banking sector right next to the financial hub.

After purchasing land, bank can also use 40 per cent of the land to construct buildings that can be used as residence for bank’s employees. This new model would allow employees to walk to their bank every day.

While sharing his opinion about Government’s outlook for revenue generation, he pointed out that the state’s tax revenue was Rs.21, 000 crore when his party took over the office. But today, it is Rs.40, 000 crore.  The state has almost doubled its tax revenue during the last three years with the help of tax reforms.


On being asked about the point of attraction for investors, WB’s finance minister pointed out that the nature of the market differentiates WB from other states. The state shares border with Bangladesh, Nepal, and Bhutan. It is home to ports that service UP, Jharkhand, and Bihar. WB also shares border with eight North Eastern states of the country. So, companies that invest in West Bengal would also get easy access to easily serve markets from neighboring states and countries.

According to Mr. Mitra, Cisco, United Technologies, and several other tech companies have shown their willingness to invest in new smart township projects in the state.


Nitten is a freelance journalist, and has worked with renowned newspapers and news agency in India. He writes on crime, international terrorism, entertainment, Indian politics, technology, business stories and more. If you are looking for desktop journalist or SEO content writer, you can email Nitten- nittengokhaley24@gmail.com

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