Stories
Sanjeev Sanyal On Bengal Economic Decline, Lost Mojo And Industrial Revival
- •Economist Sanjeev Sanyal praised India's 7 percent GDP growth forecast as outstanding given current global challenges like wars and inflation.
- •Sanyal stated that Bengal's identity is rooted in trade, enterprise, and innovation, moving away from the stereotype of slow films and adda.
- •He blamed the Left's long tenure and opposition to computers for Kolkata losing out to Bengaluru as an IT hub.
- •Sanyal defended the younger generation, stating that those engaging in abusive online discourse are not true representatives of Gen Z.
- •He emphasized that Bengal must reclaim its rich entrepreneurial history and foster a new mindset to rebuild Sonar Bangla.
Key Questions Answered
The IMF has projected a 7% growth rate for India. Sanjeev Sanyal considers this rate exceptionally good and outstanding given the current turbulent global economic climate, which includes ongoing wars, high oil prices, and trade conflicts. He stresses the importance of keeping inflation under control and preserving the gains made from cleaning up the banking system.
West Bengal contributed 10% of India's GDP in 1960, but that share has dropped significantly to 5.6%. Additionally, the state's per capita income shifted from being 27% above the national average to 12% below it. Economists attribute this decline to challenges such as land acquisition problems, entrenched corruption networks, and a failure to industrialise.
The Durga Puja pandal features a replica of INSV Kaundinya, a reconstruction of an ancient Indian stitched ship built in Goa. Sanjeev Sanyal, who conceptualised the project and sailed on the vessel from Porbandar to Oman as a goodwill mission, notes that the theme demonstrates India's traditional maritime capabilities and showcases historical transoceanic voyages.
