As the Bharatiya Janata Party (BJP) is leading in West Bengal coming close to a historic win in the state, markets analysts have predicted that the regime
change will lead to spike in state's economic growth. Early trends are indicating a strong surge for the Bharatiya Janata Party, which is leading in 185 seats, while the All India Trinamool Congress trails with around 100. Sunil Singhania, founder of Abakkus Asset Manager, while speaking at an industry event said, “Regime change in West Bengal could add 0.5 per cent to our GDP. It can add significant growth to our country and has the potential to be a huge multiplier to our economy. Bengal used to be the business hub and slowly, because of the government policies, businesses exited the state. We have seen how a forward-looking government in a large state like UP can transform. West Bengal has potential to become a $1 trillion economy." The markets have been pro BJP as far as economic policy action is concerned, Ambareesh Baliga, an independent market expert said, as reported by Business standard. In the past as well, the markets have welcomed formation of a BJP government at the state level. "The outcome of assembly election in Bihar is a recent example." West Bengal is the sixth-largest state economy in India. The state generates a Gross Domestic Product of over Rs 20 lakh crore and growing at 9.3 per cent. West Bengal is positioned as the gateway to eastern India and South East Asia with the industrial stronghold in steel, textiles, and heavy industries.
The incumbent Mamata Banerjee
BJP will be taking over TMC's Mamata Banerjee who started her political career with the Congress (I) in the early 1970s and became the General Secretary of state Mahila Congress (I) from 1976 to 1980.
Banerjee, known for her simple lifestyle, has declared total assets worth Rs 15.4 lakh in her election affidavit. Despite decades in politics, Banerjee has stated that she does not own a house, car, or any immovable property. Her financial disclosures continue to place her among the least wealthy chief ministers in India.
According to the affidavit, Banerjee’s total movable assets are valued at Rs 15,37,509.71. A major portion of this amount is held in bank deposits. She has Rs 12,36,209.71 in a savings account with Indian Bank, along with Rs 40,000 in a separate account maintained for election-related expenses. Her total bank balance stands at Rs 12,76,209.
