Tag: Interest

Trinamool MPs protest outside Parliament against interest cut in small savings schemes

Posted on | by aitc | Leave a Comment on Trinamool MPs protest outside Parliament against interest cut in small savings schemes

Trinamool Congress today held a dharna in front of Mahatma Gandhi’s statue in the Parliament complex, protesting against the slashing of interest rates on PPF and other small savings schemes.

Party MPs from both the Houses were present, raising slogans against the Centre’s move that would hurt the common people while no action was  being taken against defaulters of NPA. The MPs demanded withdrawal of interest cut in small saving schemes by the Centre. Saugata Roy raised the issue during Zero Hour in Lok Sabha.

Bengal CM had earlier attacked the Centre on this issue and said this decision would lead to the mushrooming of chit funds. Trinamool had organised a rally against the Centre in Kolkata on April 3, 2017, on the same issue.

 

স্বল্প সঞ্চয় প্রকল্পে সুদের হার কমানোর প্রতিবাদে সংসদে ধর্ণা তৃণমূলের

স্বল্প সঞ্চয় প্রকল্পে সুদের হার কমানোর প্রতিবাদে সংসদে ধর্ণা দিলেন তৃণমূলের সাংসদরা। কেন্দ্রের এই জনবিরোধী নীতির বিরুদ্ধে বিভিন্ন স্লোগানের মাধ্যমে সরব হন তারা।

সাংসদরা বলেন সাধারণ মানুষের সঞ্চয়ে সুদের হার কমানো হচ্ছে কিন্তু ব্যাঙ্কগুলির নন-পেয়িং অ্যাসেট নিয়ে কোনো পদক্ষেপ নেই কেন্দ্রের। তারা দাবি জানান অবিলম্বে স্বল্প সঞ্চয় প্রকল্পে সুদের হার কমানোর সিদ্ধান্ত প্রত্যাহার করুক কেন্দ্র।

এর আগে বাংলার মুখ্যমন্ত্রী এই ইস্যুতে কেন্দ্রকে আক্রমণ করে বলেন যে এই সিদ্ধান্তের ফলে চিট ফান্ডের বাড়বাড়ন্ত হবে। ৩রা এপ্রিল এই ইস্যুতে কলকাতার বুকে এক মহামিছিল করে তৃণমূল।

Bengal’s debt conditions improve under Trinamool

Posted on | by admin2 | Leave a Comment on Bengal’s debt conditions improve under Trinamool

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:

economy files

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.

economy files

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

economy files

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.

economy files

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.