West Bengal likely to see regulatory improvements, says NITI Aayog Vice Chairman
NITI Aayog Vice Chairman Ashok Lahiri expressed optimism that the state will reform its regulatory systems to support industrial growth.
NITI Aayog Vice Chairman Ashok Lahiri said on Thursday that West Bengal is expected to see improvements in its regulatory environment. Speaking to the media in Kolkata, Lahiri noted that state governments are increasingly recognising the need to ease regulations to support industry.
According to The Tribune, Lahiri stated that state governments are becoming aware of deficiencies in their regulatory systems and are working to address them. He said he is hopeful that West Bengal will see definite improvements in its regulatory regime.
Lahiri emphasised that regulatory reform must be a continuous process to support economic growth. He noted that because industries function within state jurisdictions, state-level action is vital for improving the regulatory framework.
Regarding the West Bengal government's investment performance during its first five months in office, Lahiri said it is too early to make a definite judgement. However, he expressed hope that the government will deliver on high public expectations based on its current interactions.
The Vice Chairman also suggested that West Bengal should work to regain its status as one of India's leading industrial states. He said the state has significant economic potential but has lost ground over the years.