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November 25, 2018

Rs 44,000 crore investment in small-scale industries in current fiscal till now

Rs 44,000 crore investment in small-scale industries in current fiscal till now

Under the leadership of Chief Minister Mamata Banerjee, the Trinamool Congress Government has brought about massive developments in Bengal. Micro, small and medium enterprises (MSME) is one of the brightest spots among the sectors.

Speaking at the stall put up by the Bengal Government’s Micro, Small & Medium Enterprises and Textiles (MSME&T) Department at the India International Trade Fair (IITF) in New Delhi, the Finance and Commerce & Industries Minister, Dr Amit Mitra said that there has been an investment of Rs 44,000 crore till now in the current fiscal (2018-19) in MSMEs in Bengal.

Last year, at the meeting between the government and bank representatives, it was decided that the banks would extend loans worth 38,000 crore during the current fiscal. The way the Trinamool Congress has been running the State, loans have already touched Rs 44,000 crore.

This performance has been in spite of the devastation wrought by the Central Government on the country through the implementation of demonetisation and the flawed implementation of GST. All the States have undergone huge losses. The hurried implementation of the GST has led to a collective loss of 78,929 crore.

Giving further statistics on Bengal’s superior performance, the minister said that the State’s GSDP for the 2017-18 fiscal was 9.1 per cent, compared to 7 per cent for India.

In fact, the performance has extended to the MSME&T Department’s stall at the IITF which has managed to make sales worth Rs 40 lakh in the first six days when the fair has been open to the general public (from November 18). It ends on November 27.

Source: Bartaman