Calcutta Stock Exchange may rise again as BJP govt unveils ‘revival’ plan in Bengal budget 2026

The BJP-led West Bengal government is exploring possibilities to revive the long-defunct Calcutta Stock Exchange (CSE). During his first budget speech, Finance Minister Dr. Swapan Dasgupta suggested that reopening the exchange could help draw private investment and re-establish Kolkata as a financial hub for eastern India.

The Calcutta Stock Exchange was suspended in 2023 by the Securities and Exchange Board of India (SEBI) after it failed to comply with key regulatory requirements, including adequate trading activity, as well as proper clearing and settlement systems. The suspension was subsequently upheld by the courts.

The Calcutta Stock Exchange has been inactive since April 2013 due to suspension by SEBI for failing to meet regulatory requirements, and its future remains uncertain despite revival plans.

The West Bengal government aims to revive the Calcutta Stock Exchange to attract private investment and re-establish Kolkata as a financial hub in eastern India, enhancing access to capital and creating jobs.

Reviving the Calcutta Stock Exchange could lead to lower listing and trading costs, improved access to capital, and job creation, thereby supporting broader economic growth in Eastern India.

Investors should carefully evaluate the revival plans and the exchange's compliance with regulatory requirements before considering investment, as the success of the revival will impact potential returns.

The revival could play a crucial role in restoring Kolkata’s financial significance, which may boost regional economic activities and increase investor confidence in the area.

While presenting the 2026–27 state budget, Finance Minister Dr. Swapan Dasgupta said the government aims to revive the 118-year-old institution as part of its broader vision for a “Viksit Bharat” and “Viksit Bengal.”

The move comes at a time when the exchange is facing the threat of a complete shutdown.

While presenting the first budget of the BJP-led government in West Bengal, Dr Swapan Dasgupta emphasised the need to revive the Calcutta Stock Exchange.

He noted that the exchange, one of India’s oldest financial institutions, has been facing prolonged challenges due to legal and regulatory constraints. According to him, its revival could help Kolkata regain its status as a key financial hub, according to a report by India Today.

“My Government proposes to support the revival of the Calcutta Stock Exchange so as to reclaim Kolkata's place as a financial capital. The revival of the Calcutta Stock Exchange would have multifarious advantages, including easier access to capital for Eastern India, lower costs of listing and trading and create new jobs,” said the minister, as reported by India Today.

The Calcutta Stock Exchange has been inactive since April 2013, when the Securities and Exchange Board of India (SEBI) suspended its operations.

The regulator flagged multiple concerns, including compliance lapses, weak governance practices, and inadequate technological infrastructure. After years of legal proceedings with SEBI, the exchange applied in February 2025 for voluntary exit from its status as a stock exchange.

However, SEBI has not yet granted final approval for the exit, keeping the possibility of a revival open.