Harshavardhan Neotia hails West Bengal BJP government's first Budget as 'growth as an ecosystem'
Ambuja Neotia Chief Welcomes State Budget's Ecosystem Approach
Harshavardhan Neotia, Chairman of Ambuja Neotia Group, said what is particularly encouraging about West Bengal's Budget is that it looks at growth as an ecosystem rather than a collection of individual initiatives. He added that if implemented effectively, the Budget's measures can help unlock new aspirations, attract investment and create a broader growth narrative for West Bengal.
West Bengal Chief Minister Suvendu Adhikari and State Finance Minister Swapan Dasgupta presented the state's first full Budget under BJP rule on June 22, 2026, recasting the development model by keeping infrastructure, industrialisation and centrally sponsored schemes in focus.
Budget Architecture and Fiscal Discipline
Finance Minister Swapan Dasgupta presented a ₹4.38 trillion Budget aimed at building a 'Viksit Bangla' as a vibrant part of 'Viksit Bharat'. Incentives for industry, plans for a semiconductor unit and a defence manufacturing hub, along with a slew of infrastructure projects, formed the cornerstone of the growth agenda.
The Budget projects the revenue deficit as a percentage of gross state domestic product at 1.02 per cent, down from 2.07 per cent in the prior year, with the fiscal deficit falling to 2.91 per cent from 3.40 per cent.
Industrial Revival and Infrastructure Push
The Suvendu Adhikari government has prioritised infrastructural development and job generation, which stagnated during the previous Trinamool Congress rule. The BJP leadership has signalled intent to build a more business-friendly climate by freeing up land for industry, reviving dormant manufacturing clusters, and courting investment in steel, chemicals, engineering, electronics, and food processing.
Finance Minister Swapan Dasgupta proposed a new airport near Kolkata, metro lines in major urban centres like Siliguri, Durgapur and Asansol, and five major river bridges. The proposed allocation for industry, commerce, and entrepreneurship has increased to ₹3,266.59 crore, more than double the previous government's allocation of ₹1,477.91 crore.
Land Reform and Real Estate Context
The Budget includes a review of the Urban Land (Ceiling and Regulation) Act, 1976, revival of the Calcutta Stock Exchange, and measures to attract private investment and industrial growth. These land-related reforms address a critical concern for real estate developers, as land availability and regulatory clarity have been cited as impediments to development in recent years.
Ambuja Neotia's Footprint in Bengal
Ambuja Neotia Group, led by Harshavardhan Neotia, is a prominent Indian conglomerate with diverse interests in real estate, hospitality, healthcare, and education. Headquartered in Kolkata, the group's projects are mostly located in Eastern India.
Under Harshavardhan Neotia's leadership, the Group ventured into real estate and hospitality, with the residential project Udayan~The Condoville setting new standards for public-private partnerships in social housing. From luxury bungalows, five-star hotels, malls and super specialty hospitals, Neotia has created several architectural landmarks in Bengal.
Employment and Welfare Components
The Budget announced one lakh government jobs, with 33% reservation for women in recruitment, alongside a major hike in Dearness Allowance. The government also announced a new policy for cloud kitchens to promote micro entrepreneurship among women, and proposes round-the-clock operation of shops, restaurants, offices, logistics, services and hospitality establishments while ensuring labour safeguards.