Latest News

August 29, 2019

Bangla best in bank lending to MSMEs: Dr Amit Mitra

Bangla best in bank lending to MSMEs: Dr Amit Mitra

The State Finance, Industry and MSME Minister, Dr Amit Mitra said recently that Bangla is ranked first in the country when it comes to bank lending in the micro, small and medium enterprises (MSME) sector. He was answering a query in the Assembly, whose Budget Session is going on.

In financial year (FY) 2018-19, the MSME bank lending was to the tune of Rs 56,458 crore, he said, which in 2017-18 was Rs 44,049 crore. In 2010-11, the lending to MSMEs was only Rs 7,236 crore, increasing by almost eight times in 2018-19.

He went on to say that since the Trinamool Congress Government assumed power for the first time in 2011, it has set targets in all State Level Bankers’ Committee (SLBC) meetings and through constant monitoring has ensured smooth lending in the MSME sector.

Speaking on the various steps taken by the State Government for the improvement of the MSME sector, Dr Mitra said it has taken the initiative for holding MSME synergies across the state.

The first MSME Conclave in Bengal was held in 2018 at the Biswa Bangla Convention Centre, which was inaugurated by Mamata Banerjee. About 4,500 crafts-makers like weavers, handicrafts-makers, etc. spread across the State took part in the conclave.

The government has arranged training for skill enhancement and created infrastructure for marketing products manufactured by the crafts-makers.

As a result of the various measures, MSME business clusters have increased from 49 in 2011 to 520 in 2018, the latest being the one inaugurated recently in Howrah by Chief Minister Mamata Banerjee.

The minister also informed the House that the state is coming up with Asia’s first Integrated Leather Complex at Bantala, Kolkata, the completion of which in the near future would generate 5 lakh jobs. Several MSME projects are also coming up in Howrah district, which will also employ a good number of people from the State.

Source: Millennium Post