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August 16, 2019

Bangla’s GDP growth rate is 12.58%: Dr Amit Mitra

Bangla’s GDP growth rate is 12.58%: Dr Amit Mitra

At today’s inauguration of industrial parks and a host of other initiatives at a programme at Nabanna Sabhaghar, Dr Amit Mitra, the State Finance, Commerce and Industry, and MSME Minister, gave out data that proves that under the leadership of Chief Minister Mamata Banerjee, Bangla is going strong, despite the hapless state of the economy in other parts of the country.

He said that the State’s GDP growth rate (GSDP, or gross state domestic product) stands at 12.58 per cent, which is the best in the country.

Other figures which prove the rapid progress that Bangla has been making include the State Government’s capital expenditure increasing by 11 times in the last eight years (Trinamool Congress Government), Plan Budget increasing by seven times and income tax collection increasing by three times.

In relation to the inauguration of the MSME industrial parks in Howrah, Dr Mitra said that 70 per cent of employment in India is provided by the MSME sector, 45 per cent of the manufacturing sector is comprised of MSMEs and 40 per cent of India’s exports are contributed to by the MSME sector.

These numbers prove that the decision of the State Government to provide loans on a large scale to the MSME sector has provided huge dividends.