Mitra was familiar in trade circles as the head of the Federation of Indian Chambers of Commerce and Industry (FICCI).

FORBES: Oh, Calcutta! Need to Know Amit Mitra

Amit Mitra, of the Federation of Indian Chambers of Commerce and Industry, supports similar schemes, as well as preferment schemes by banks.

ECONOMIST: Job-preferment in India

"The growth in the industrial and manufacturing sector remains an area of concern as positive growth of 2.4% in January 2013 comes over a low base, " said Naina Lal Kidwai, president of the Federation of Indian Chambers of Commerce and Industry, a lobby group.

WSJ: India Factory Output Improves

The Federation of Indian Chambers of Commerce and Industry has called for sports betting to be regulated.

WSJ: Probe Into Illegal Bets on Indian Cricket Escalates

However, Federation of Indian Chambers of Commerce and Industry chief Amit Mitra, who has been an advisor to Banerjee on Railways, has been pitted against incumbent finance minister Asim Dasgupta in Khardah, spawning speculation that he could inherit that position should TMC form a government.

FORBES: India