The state’s new finance minister, Swapan Dasgupta, in his first state budget presented on Monday, pledged to support the revival of the Calcutta Stock Exchange to “reclaim Kolkata’s place as the financial capital”.
“Revival of the Calcutta Stock Exchange will have multiple benefits for eastern India, including easier access to capital, lower cost of listing and trading, and creation of new jobs,” Dasgupta said.
The stock exchange, a 118-year-old institution, was on the verge of closure due to several regulatory hurdles. The exchange has not traded for more than a decade and officially surrendered its platform last year.
Dasgupta also said that his government plans to list profitable state public sector undertakings to mobilize resources.
Live events
“This will benefit the state by raising capital through disinvestment, unlocking hidden corporate value. Potential state public sector undertakings will be identified and listed on public stock exchanges,” the minister said.
(You can now subscribe to our ETMarkets WhatsApp channel)