We are committed to providing social security to workers : WB CM at Shramik Mela

Fulfilling the promise for all round development in every sector, WB CM Ms Mamata Banerjee has taken up the cause for welfare of workers in organised and unorganised sectors. The CM Ms Mamata Banerjee inaugurated a Workers’ Fair today at Milan Mela Grounds, organised by the Department of Labour Department, West Bengal Government.

This endeavour is a big step which surely will enhance the standards of living of the workers. The government will not only provide with financial assistance but also educate the workers about their rights and safety measures to be taken in work place.

WB CM Ms Mamata Banerjee said, “We should simplify processes so that workers can get their benefits easily. Our government launched the Social Security Scheme for unorganised sector who have no PF or no insurance. We are committed to providing social security to workers”

Workers must be educated about their rights through these fairs. Such fairs must be held in every district. Your struggle inspires us to work. You are our pride”, she added.

Highlights of the measures announced at the fair:

Providing assistance to the construction / transport workers and workers from more than 58 unorganised sectors.

Registration at Employment Bank and providing Youth Incentives.

Construction of house and financial assistant for house hold power connection to the Bidi workers.

Counselling regarding West Bengal Shop and Establishment Act, Labour Act, minimum wages, Gratuity etc.

Counselling regarding the security of boilers.

Workshop on legal matters regarding security of workers, safety measures in prevention of accidents.

Counselling and providing information in connection of various assistance by the West Bengal Labour Welfare Board.

West Bengal’s public finance and debt conditions were under adverse conditions when Mamata Banerjee took over the Government. However under the leadership of Mamata Banerjee, Chief Minister of West Bengal and Amit Mitra, Finance Minister of West Bengal along with a dedicated teams of officials the situation has improved in the last 3 years.

Note: Figures for 2012-13 are Revised Estimates and for 2013-14 are Budget Estimates. The averages used in the RBI Publication include the estimates.

In the RBI publication “State Finances-Study of Budgets 2013-14”, the ‘Debt Sustainability Indicators’ and ‘Debt Servicing Indicators’ have improved for Bengal. The results are here for everyone to see:

The Debt-GSDP ratio was 44% in 2008-09 and 2009-10 has decreased sharply over the years. It stands at 40.1% in 2011-12, 37.5% in 2012-13 and at 34.6% at 2013-14.

Interest payment to GSDP ratio has fallen down from 3.8% (2005-06 to 2009-10) to 2.8% (2010-11 to 2013-14).

Interest payment to revenue receipts has also decreased from 37.9% (2005-06 to 2009-10) to 25.8% (2010-11 to 2013-14). Revenue receipts means the taxes, duties and fees levied by the government and also includes interests on investments made by the government or dividends earned by the state.

The growth of GSDP (g) is higher than the effective rate of interest (i), ie g-i >0. In WB, g-i, is now at 8.3(2010-11 to 2013-14) and has increased from 4.6 (2005-06 to 2009-10). If GSDP grows at a higher rate than the effective rate of interest, then it reflects a better situation of public finance. The surplus has grown sharply over the years.

Tag: Bengal’s economy

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