Dr Amit Mitra lists investment figures to showcase Bengal’s performance

West Bengal Finance and Industries Minister Dr Amit Mitra on Friday highlighted the investment figures and projects-in-pipeline to depict a changing industrial climate in the state.

He instead gave thrust on Purulia’s Raghunathpur figuring in the national dedicated freight corridor grid, HPCL’s turnaround story, and Birbhum’s Deocha Pachami coal block.

“The Global Business Summit in 2015 drew investment proposals of Rs 2,43,100 crore of which Rs 94,380 crore are at an operational state. The 2016 summit saw a commitment of Rs 2,50,254 crore. Inspite of the polls – and model code of conduct – Rs 24,924 crore of it are at an operational state,” Mitra said while replying to a budgetary debate in the assembly.

He claimed the state has got proposals for 234 medium and large scale units, which together amounts for a whopping Rs 72,516 crore.

Referring to July 2015 central data, he claimed that industrial growth in Bengal was higher than many states, including Punjab, Tamil Nadu and Maharashtra.

He said that the state has been scaling up infrastructure requirements like connectivity, water, transportation and power back-up at the Industrial Parks to make them viable destinations for investment. Mitra cited the HPCL’s 97 per cent productivity levels and its increased profits.

“Haldia, Asansol and Kharagpur were pulled out from red zone, else it could have been detrimental,” he said. The red zone refers to Central Pollution Control Board’s identified zones where industrial activities were banned due to environmental concerns.

He also said 2,600 acres identified in Purulia’s Raghunathpur as an industrial park would be the site for an integrated manufacturing and production hub figuring in the Amritsar-Kolkata dedicated hi-speed freight corridor.

Chambers of commerce laud ‘forward-looking’ Budget

The Bengal Chamber of Commerce and Industry on Friday congratulated state Finance Minister Dr Amit Mitra for presenting a forward looking Budget for 2016-17, with an almost five-fold increase in planned expenditure that focuses on education, employment, agriculture and the MSME sector.

The Chamber said it was encouraging that the state has also been able to achieve a robust growth of seven times in agriculture and four times in infrastructure development in the past five years, while at the same time pushing down fiscal and revenue deficits within manageable limits even against the backdrop of a huge inherited debt burden of over Rs. 2.5 lakh crore.

Rakesh Shah, president of Bharat Chamber of Commerce, Kolkata said: “Amit Mitra deserves rich accolades for the most remarkable accomplishments in terms of the reduction in fiscal deficit and revenue deficit. This is despite large scale implementation of several ambitious schemes and projects for growth in the social development sector, which are being emulated in other States of the country.”

Anil Vaswani, Chairman, CII West Bengal State Council said that the Budget is a developmental one “with a focus on small-scale industries, health, infrastructure and education. The Finance Minister has made proposals to expedite speedy dispute resolution of VAT appeal cases. This will certainly go a long a long way in improving business environment in the state.”

There is universal support for GST: Amit Mitra

Dr Amit Mitra, the Finance, Commerce and Industries Minister of West Bengal, who is also the Chairman of the Empowered Committee of Finance Ministers on GST, today said that there was universal support for GST.

“The enthusiasm and participation today was very high. 23 Finance Ministers attended the meeting today in Kolkata,” Dr Mitra said. He added that every State presented their perspective and there were only two issues regarding which there are concerns.

“The first issue is that of dual control – between Centre and State. The panel today took a decision that only above a limit of Rs 1.5 crore will the dual control come into play. Small entrepreneurs will remain out of GST ambit,” Dr Mitra said.

The issue of Revenue Neutral Rate (RNR) will be taken up during a meeting in July, the Minister added. “There are two suggestions, one putting the RNR at 17% and the other at 26%,” the WB Finance Minister said while adding that officials have been asked to submit presentations based on which the committee will decide the optimal RNR.

Dr Mitra asserted that GST was a win-win for all and will benefit industry as well as the consumers. He also reiterated Mamata Banerjee’s support for GST.

Under the Trinamool Congress Govt, WB’s financial health has improved by leaps and bounds

Under the Trinamool Congress Government, led by Chief Minister Ms Mamata Banerjee, West Bengal’s financial health has improved by leaps and bounds. The State’s performance has overtaken that of the country’s on several parameters.

The National Award for E-Governance for 2014-2015 was a huge boost for the State, the fact that it has been recognised among the best in the country in financial administration.

This impetus to e-governance has resulted in higher revenue generation, which has in turn resulted in more resources for development. The State’s Own Source Revenue (OSR) has increased from Rs 65,574.2 crore, as on March 31, 2011 to Rs 1.33 lakh crore, as on March 31, 2015.

The higher tax compliance in general (including as a result of e-governance) has, consequently, made available a higher amount for expenditure. The expenditure pattern has also improved.

The State Plan Expenditure per annum increased from Rs 14,165 crore, as on March 31, 2011 to Rs 44,074 lakh crore, as on March 31, 2015. In the same time period, expenditures under other heads also saw massive leaps: Capital Expenditure increased from Rs 2225.75 crore to Rs 13,375.01 crore, expenditure on Social Infrastructure rose from Rs 6846 crore to Rs 27,453 crore, on Agri, Agri-allied and Rural Development, from Rs 3029 crore to Rs 15,190 crore, and on Physical Infrastructure, from Rs 1759 crore to Rs 5807 crore.

With respect to fiscal indicators, the performances of all major ones have been much better than those for India. In 2014-15, Gross Value-Added (GVA) growth of West Bengal was 10.48% against 7.5% for India, increase in per capita income was 12.84%, against 6.1%, increase in industry was 8.34%, against 5.6%, increase in agriculture, forestry and fishery was 6.49%, against 1.1%.

Conclusion

These achievements are in stark contrast to the decades of Left Front misrule, when the State’s economy was in the doldrums. Now, West Bengal is economically growing much faster than many States, and has overtaken the country’s growth on many parameters as well.

 

তৃণমূল জমানায় ঘুড়ে দাঁড়াল বাংলার অর্থনীতি

তৃণমূল কংগ্রেস পরিচালিত মমতা বন্দ্যোপাধ্যায়ের সরকারের আমলে পশ্চিমবঙ্গের আর্থ-সামাজিক ব্যবস্থার প্রভূত উন্নতি হয়েছে। ই-গভর্ন্যান্স এর জন্য ২০৪-২০১৫ সালে ন্যাশনাল অ্যাওয়ার্ড পেয়েছিল রাজ্য। অর্থনৈতিক ব্যবস্থায় দেশের মধ্যে অন্যতম সেরা হিসেবে গণ্য হয়েছে এই রাজ্য।

সাধারণভাবে উচ্চকর সম্মতিতে অর্থব্যয়ের নিরিখ ও বেড়ে গেছে। ব্যয়ের পরিকাঠামো আরও উন্নত হয়েছে।

২০১০-১১ সালে মূলধনী ব্যয় যেখানে ছিল ২,২২৫.৭৫ কোটি টাকা এই ৫ বছরে তা প্রায় ৬ গুন বৃদ্ধি পেয়ে ২০১৫-১৬ সালে ১৫,৯৪৬.৯ কোটি টাকা হয়েছে। যেখানে ২০১০-১১ সালে পরিকল্পিত ব্যয় ছিল ১৪,১৬৫.১৬ কোটি টাকা, ২০১৫-১৬ সালে পরিকল্পিত ব্যয় ৩ গুন বৃদ্ধি পেয়ে হয়েছে ৪৯,৯৬৫.৫৪ কোটি টাকা।

২০১৪-১৫ সালে পশ্চিমবঙ্গের GVA বৃদ্ধির হার ছিল ১২.৪৮% যখন সর্বভারতীয় ক্ষেত্রে বৃদ্ধির হার ৭.৫%। GVA-র হিসেব অনুযায়ী কৃষি ও অনুসারী ক্ষেত্রে পশ্চিমবঙ্গের বৃদ্ধির হার ১.১%। শিল্পক্ষেত্রে বৃদ্ধির হার ১০.৫৯% যেখানে সর্বভারতীয় ক্ষেত্রে বৃদ্ধির হার ৭.৩%। পরিষেবা ক্ষেত্রেও ভারতের বৃদ্ধির হার যেখানে ৯.২% সেখানে বাংলার হার ১৩.৯৯%। প্রতিটি ক্ষেত্রেই এগিয়ে আছে বাংলা।

বাম শাসনকালে যখন রাজ্যের অর্থনৈতিক ব্যবস্থা সম্পূর্ণ মনমরা হয়ে ছিল এই সরকার আসার পর তা বিপরীত রূপ নিয়েছে। অন্যান্য রাজ্যের তুলনায় পশ্চিমবঙ্গ এখন অর্থনৈতিক ভাবে অনেক এগিয়ে রয়েছে।

 

RBI praises Bengal’s efforts to mobilise higher revenue

Reserve Bank of India has expressed satisfaction over West Bengal’s ability to grow own revenue.

“Revenue augmenting capacity improves in West Bengal, The state may cut down borrowing to reduce fiscal stress” RBI Deputy Governor HR Khan said Friday.

RBI Governor Raghuram Rajan said he met state finance cum industry minister Amit Mitra over a dinner and discussed the state’s financial health and the challenges it is facing.

According to state finance minister Amit Mitra, the state raised Rs 82,946 crore in the first four years of Trinamool Congress rule, out of which Rs 76,346 crore was spent towards interest and principal repayment.

Bengal’s fiscal deficit as percent of gross state domestic product was 3% for FY15 with revenue deficit at 1.3%, which were improvements compared to preceding fiscal.

 

The story was first published in The Economic Times

Bengal bags first prize at CSI-Nihilent e-governance awards

The Integrated Financial Management System (IFMS) of West Bengal Government’s Finance Department was awarded Award of Excellence (1st Prize) by Computer Society of India-Nihilent at e-governance awards, 2015.

Out of about 250 nominations from different states, 53 qualified for the Final Round. IFMS, West Bengal was finally selected for 1st Prize.

 

West Bengal Chief Minister Ms Mamata Banerjee wrote on her Facebook page:

“IFMS has ensured faster fund movement to all offices and grants-in-aid institutions ensuring faster execution of development schemes and disbursement of scholarships and pensions. My best wishes to all.”

 

Tweets by Mamata Banerjee:

Bengal shines at SKOCH Awards for smart governance

Fair Price Medicine Shops and CCU in districts of West Bengal have been ranked best project in the country in the health sector and were honoured with the prestigious SKOCH Award of Excellence.

Also, Bengal is on the top spot nationally in Finance and amongst the top three states in Agriculture and Rural Development and Governance.

Kanyashree, e-Governance project of KMC, web-based integrated monitoring system of panchayat bodies and GRIPS of the Directorate of Commercial Taxes are also among the winners.

Overall, the award authorities have adjudged Bengal as the state with maximum improvement in performance during last one year.

Reacting to the honour for Bengal in various sectors, West Bengal Chief Minister Ms Mamata Banerjee wrote on her social media pages: “Hearty congratulations and best wishes to my entire ‘Paschimbanga Paribar’.”

Haldia Petrochemicals has regained health: Amit Mitra

State Industry and Finance Minister Dr Amit Mitra Friday said health has returned to Haldia Petrochemicals Limited, which was going through a crisis sometimes back.

Speaking at Petrochem 2015, organised by the Indian Chamber of Commerce, Dr Mitra said: ” I feel proud to say that today Haldia Petrochemicals Limited is functioning  at 95 percent of its capacity, which is a record. The company is getting orders from states like Delhi, Gujarat and Tamil Nadu and is creating around 3,500 direct and indirect jobs, while number of jobs downstream is close to 3 lakhs.  This means health has returned”.

The minister also said that the state is number one in reforms. “We have been rewarded by the Centre for reforms, which shows we are progressing”.

Dr Mitra urged industries to come forward and invest in the petrochemical sectors. “The per capita manufacturing capacity in the state for processed plastic is just 2.8 kgs while per capita consumption is nine kgs. So there is demand and I urge you to bridge this gap”.

The minister also appealed to industries to come up with a proposal and DPR for a petrochem cluster and assured all kinds of support for making the project a reality.

” You send us a proposal and we will consider it seriously”. trying to establish that land is not an issue in the state,the minister said we have around 4500 acres of land under WBIDC and also creating necessary infrastructures on another 4,400 acres. So getting land for setting up your unit won’t be a problem”.

WB Govt to tap 1 lakh acres of government land for industry

West Bengal is planning to tap over one lakh acres of land available with the government in a bid to woo investors to the state.

State Finance, Industries and Commerce Minister Dr Amit Mitra said: “We are pro-poor and pro-business. Bengal is one case where reality is significantly better than perception. The question of land acquisition doesn’t arise. The government and its various departments have over one lakh acres of ready land, which we have decided to give to business houses to set up industries.“

Dr Mitra was in Mumbai for a road show to promote ‘Bengal Global Business Summit 2016’ to be held in Kolkata in January 2016.

“Land will not be a problem in West Bengal. WBIDC has 4,400 acres of ready land under its possession for industrial development. This is apart from the land for 6 townships in the state. Another 4000 acres of land will be made available soon,” the finance minister said.

The rest of its land bank is available with various government departments spread all over the state.

“Come and make money, come where the rising curve is happening,” said Dr Mitra, highlighting the growth benefits of investing in the state.

Among the key features offered to investors include land for greenfield projects, industrial parks and smart public administration.

Group of Ministers constituted to identify and reclaim closed industry land

The West Bengal Government has decided to step up its efforts to reclaim 285 acres of land acquired by public sector firm Cycle Corporation of India, at Asansol.

The decision was taken at the third meeting of the Group of Ministers (GoM) constituted to identify and reclaim land acquired by closed industrial units.

As per the findings of the GoM, of the 49,000 acres of land acquired by closed industrial units in Bengal, only about 7,500 acres are deemed non-litigant (not mired in litigations) by the Board for Industrial and Financial Reconstruction (BIFR).

As per preliminary findings of the panel, the land held by the Cycle Corporation of India does appear to be litigation-free.However, to be absolutely certain that the piece of land in question isn’t mired in litigation problems, the GoM, today (Thursday), set up a separate panel comprising directors, commissioners or joint secretaries of five state government departments, namely law, land, industrial reconstruction, agriculture and labour.

The panel will probe the current status of the land held by the Cycle Corporation of India and submit its report (to the GoM) on September 29, 2015,” the cabinet member said.

 

The image is a representative one