Mamata Banerjee's tenure as Chief Minister of West Bengal has been marked by a strong focus on welfare, with the state’s budget for social services soaring to ₹1.21 trillion since 2011. This pro-welfare approach has helped consolidate support among the lower middle class but has resulted in uneven industrial growth and hesitancy among private investors. Despite the state's per capita net state domestic product increasing from ₹51,543 in FY12 to ₹1,63,467 in FY25, it still falls behind several other Indian states. The government’s recent decision to revoke long-standing industrial incentives to fund welfare programs has drawn criticism from the business community, which argues that such incentives are crucial for attracting investments. The Bengal Global Business Summit has generated substantial investment proposals, totaling ₹4.4 trillion in 2025, yet actual investment remains modest. Experts suggest that to reset perceptions and stimulate economic growth, West Bengal may need a high-impact industrial project to reignite investor interest.