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May 8, 2013

State Government to float a Social Security scheme for the depositors` safety

State Government to float a Social Security scheme for the depositors` safety

West Bengal Chief Minister Ms Mamata Banerjee at a press conference in Writers` Building on May 8th 2013 said that the State Government is thinking of introducing a Social Security Scheme in the interest of the people. She said, “ to provide social security in the wake of growing financial insecurity, we are thinking of a social security scheme. It will ensure proper safety for public money and ensure decent and proper return. We will shortly put the entire proposal on the Finance Department`s website inviting public comments.“

“Our Finance Minister Amit Mitra and Chief Secretary Sanjay Mitra have met with the Prime Minister and Home Minister in New Delhi and requested them to pass the Bill in the parliament as soon as possible. They have also requested the Union Finance Minister for his approval on the same“ said Ms Banerjee. “ At the same time, “ the CM added, “This Government has a responsibility towards the people as this is a people`s government. People have been deceived over the years by fraud chit fund companies in West Bengal. We want to end this ordeal of the common man whose only interest is to save money for his daughter`s wedding and son`s education. Hence they are always in a lookout for a secure place to invest their hard earned money but there is no such suitable place where they can invest. People have lost faith in post offices as the interest rate is negligible. Since there is no suitable option, they invest and save money here and there and fall prey to fraud companies. People are worried. They are looking for a safe place to deposit their money. People trust the government and know that the government can provide them security. Prime importance is to keep the money safe and not to provide a high interest rate. We are not here to cheat people so I provide an interest rate that is within my capacity. We are extremely concerned and worried for the common man.“

“I request the common people, experts in various fields, people who have been duped, youth and students, media personnel and anyone can provide opinion on the website. We respect people`s opinion and based on the opinion we will draft the bill and make it into a law. This is a very sensitive issue, it`s in public interest, and hence any further decision will be taken exclusively by the finance department“ said Ms Banerjee.