Pranab opens financial hub in West Bengal

Oct 14, 2010 - Kaushik Pradhan |

Kolkata

Launching the state-of-the-art financial hub at Jyoti Basu Nagar (New Town) on Wednesday, Union finance minister Pranab Mukherjee said, “This financial hub which will be of international standard, will play a major catalytic role in the process of development in the region.” This will be the second financial hub in the country after Bandra-Kurla in Mumbai and its construction will commence in December.
This hub will attract an investment of around `24,000 crore and will create four lakh direct and indirect jobs. When the hub becomes fully operational, it will help the state to increase the growth of state domestic product (SDP) by another 2 per cent.
Mr Mukherjee lauded the state government and particularly West Bengal Housing Infrastructure Development Corporation Limited (WBHIDCO) chairman and state housing minister Gautam Deb for what he described as a “landmark” project. “The beginning made today will surely open a new vista of progress and prosperity,” he said.
Spread over 300 acres of land, the hub will have 40 million square feet of built-up area to house the facilities of banks, insurance companies and other financial institutions. “India cannot become a major economic player without physical and social infrastructure. For that we have to create institutional mechanism and this hub is a major step towards that goal,” Mr Mukherjee added. His presence must have come as a shot in chief minister Buddhadeb Bhattacharjee’s arms. Trinamul Congress chief Mamata Banerjee was again conspicuous by her absence.
Mr Bhattacharjee once again asserted that Singur was not the end of history. “We are advancing after Singur. Investments are pouring in all sectors. This financial hub will help the entire eastern India,” he said.

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