Bengal’s debt conditions improve under Trinamool

Bengal’s debt conditions improve under Trinamool

Posted on January 25, 2015 | by admin2 | Leave a Comment

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:

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.

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

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.

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.

We want Bengal to keep moving ahead on the path of development: WB CM at North Bengal Industry Meet

Posted on January 19, 2015 | by admin2 | Leave a Comment

West Bengal Chief Minister Ms Mamata Banerjee today inaugurated the North Bengal Industry Meet-2015 at Uttar Kanya. She interacted with the prospective investors and renowned business persons of North Bengal during the meet.

Many industry and business representatives from neighbouring countries of Nepal, Bhutan and Bangladesh and 7 North Bengal districts participated. Many captains of industry from Kolkata have joined the programme.

North Bengal is the gateway to the North East, and its strategic proximity to Nepal, Bhutan and Bangladesh offers huge business potential. The region already received more than Rs. 4000 Crore investment proposals very recently which are being implemented on a fast track. Today’s Industry Meet has generated significant enthusiasm and lots of investment proposals are in the offing.

All the investment proposals will be monitored by a Core Committee for North Bengal and I will personally come every six months to review the progress. For the convenience of investors and tax payers of North Bengal, a new Bench of the West Bengal Sales Tax Appellate and Revisional Board in Siliguri has been launched today. An MSME Facilitation Centre and an Unique Clearance Centre to look into mutation and conversion of land for industrial purposes at “Uttarkanya” have also been created. The government is going to set up a new Convention Centre and an Industrial Fair Ground in North Bengal.

Highlights of the CM’s speech:

From now, for paying taxes you do not have to go to Kolkata. Work can be done in Siliguri itself.

We have brought down the loss in mandays due to Bandhs to zero.

We do not support the politics of Bandh. We do not believe in destructive politics.

Disputes should be solved through negotiations and talks.

We want Bengal to move forward. We need your help and cooperation.

Some media houses have negative attitude. They only show bad news 24X7.

We will be providing skill development training to 10 lakh youth.

We hosted Bengal Global Summit few days ago. Job opportunities will be created for 1 crore people in 2-3 years.

We will create a fund worth Rs 200 crore to support entrepreneurs.

We have set up a Unique Clearance Centre. A branch has been established today at Uttarkanya.

We have created a portal for MSME sector.

We are committed to rejuvenate the tea industry.

Ambuja group & Keventer Group are investing in north Bengal. We wish them all the best for their new venture.

MSME sector in north Bengal – Marching Ahead

Posted on January 19, 2015 | by admin2 | Leave a Comment

The West Bengal Government led by Ms Mamata Banerjee has taken several initiatives to speed up the process of industrialisation in North Bengal. From grants to providing services, the government has helped a multitude of small and medium enterprises in the region.

Initiatives like Siliguri Synergy, Synergy Gourbanga, Unique Clearance Centre, Finance Clinic, Statutory Compliance Centres and Technology Facilitation Centre along with various Chambers of Commerce have helped the MSME sector to grow in north Bengal.

Some of the initiatives of the WB Govt are listed below:

During Synergy Siliguri and Synergy Gourbanga investment proposals to the tune of Rs 1612 crore were received

All land related problems solved

All statutory compliances done

Problems relating to ground water drainage taken care

Bank loans worth more than Rs 1700 crore given to MSME sector during April-December, 2014

200 acre of land identified for industrial purposes

29 clusters formed

Progress in establishing comprehensive handloom sector

Various handicraft centres recognised by UNESCO to be brought under cultural tourism circuit

For the first time the Govt will train individuals to become entrepreneurs with training in finance, corporate management, technology and other related subjects

B2B and B2G sessions conducted to create an international partnership

WB CM forms core committees for speedy implementation of Bengal Global Summit proposals

Posted on January 15, 2015 | by admin2 | Leave a Comment

Following up on the success of the Bengal Global Business Summit, and to expedite the implementation of investment proposals received during the summit, West Bengal Chief Minister Ms Mamata Banerjee felicitated the industrialists, members of the Chambers of Commerce and the officials who worked hard to make the summit a great success.

The Chief Minister chaired a meeting at Nabanna on Wednesday where she formed sectoral committees for the core sectors during the meeting.

The nine newly formed sectoral committees include that of Manufacturing, Health-Education, Tourism-Entertainment, Food & Food Processing, Urban Development, Infrastructure & Power, Financial Sector, Transport and MSME. These committees will work on the proper channeling investments following the time frame of the Administrative Calendar.

Business meet to promote Industry in North Bengal

Posted on January 13, 2015 | by admin2 | Leave a Comment

WB CM Ms Mamata Banerjee will chair a business meet on 19 Jannuary 2015, at Uttar Kanya, Siliguri. North Bengal Development Minister Gautam Deb informed that about 500 industrialists will be present in the meet. The meet will discuss the prospects for development of industry in the 7 districts of North Bengal.

The focus areas will be to set up environment friendly “Green Industry”.

An education hub and IT hub will be created near Siliguri.

The business meet will be also to promote tea industry, jute industry and tobacco industry.

A Safari park near Sevok is being constructed with an investment of about Rs 250 crore.

A mega tourist hub is under construction at Gajoldoba, 30 km from Siliguri. The project is estimated to involve an investment in the tune of Rs 2500 crore.

One of the leading beverage companies has promised an investment of Rs 200 crores in the coming years.

The Coochbehar airport will start its operation within the first half of 2015.

A MoU has been signed in the recently concluded Bengal Global Summit, 2015 with the Ambuja group which will set up 5 star resorts at Makaibari tea estate, Kurseong, Ghoom, Darjeeling, Lataguri and Gorumara forest.

Income generated by NBSTC (North Bengal State Transport Corporation) has now increased to 8 crores, but a monthly target of 10 crores has been set up.

WB CM to hold business meets in districts

Posted on January 10, 2015 | by admin2 | Leave a Comment

WB CM Ms Mamata Banerjee will carry forward the success of Bengal Global Business Summit by organising meetings of captains of industry, core committees and various chambers of commerce at district level.

The CM is scheduled to leave for North Bengal on 19 January. During her trip she will hold a meeting with business chambers of the six districts.

Mati Utsav will be held at Panagarh on 28 January and the next day the CM will hold a business meeting with various chambers of commerce from districts like Purulia, Bankura etc at Asansol.

Chief Minister Ms Mamata Banerjee will also felicitate officials who “worked hard to make Global Bengal Business Summit” a success. She said a “Thanksgiving Day” will be held on 14 January for the officials. She said the summit has been a pride for Bengal and investments worth Rs 2.43 lakh crore has been received from it.

“Mahatma Gandhi’s Tirodhan Divas will be observed as Sampriti Divas on 30 January in the state,” said the Chief Minister. The same day, a programme will be held to provide loans to minorities.

She will hold a meeting with workers of unorganised sector next month.

Here’s what captains of industry said about Bengal Global Summit

Posted on January 9, 2015 | by admin2 | Leave a Comment

Bengal Global Business Summit was a landmark event. Bengal means business was the takeaway message from the two-day event.

Here’s what various captains of industry and delegates from the world said about the Summit:

It was a landmark event. I was pleasantly surprised at the scale of the investment proposed and the enthusiasm shown by potential investors. I feel optimistic that Bengal will play part in the resurgence of Indian economy Harsh Neotia | CHAIRMAN, AMBUJA-NEOTIA GROUP

It was a landmark event. We have signed some major investment proposals, including the MRTS hub. It will add to the rejuvenation of manufacturing in Bengal.This will also bring additional foreign direct investment in the state that we already got through the airport Partho Ghosh | MD, BAPL

It was a splendid effort by the state and my compliments to the CM and her team. This has sent a very positive message to the world and also shown that the Indian leaders are giving priority to economic development over political ideologies Umesh Chowdhary | VC, TITAGARH GROUP

The summit was very well-organized and saw a very good turnout. It was interesting to see many industrialists and investors from all over India and the world here. This is my first time in Kolkata and I was pleasantly surprised by the developments in Bengal. I shall make my govt and businessmen in my country aware of the investment possibilities in Bengal San Schreiner | AMBASSADOR OF LUXEMBOURG TO INDIA

West Bengal is taking firm steps towards consolidating its position as a potential tourist destination of India. Our state has unparalleled tourism products that are unique in terms of its beauty, rich culture and history Vijay Diwan | MD, APEEJAY SURRENDRA PARK HOTELS

Tremendous positive enthusiasm has been created by the CM and the FM about the prospects of our state and if manufacturing projects and especially the river highway logistics are expedited, the fortunes of Bengal will unquestionably change Ghanshyam Sarda | CHAIRMAN, SARDA GROUP

I would rate the summit as a very successful event. This time we build `Brand West Bengal’ Sumit Mazumdar | VC & MD, TIL

The profile of Bengal has changed in the country. Now everybody will be positive about Bengal M K Jalan | CHAIRMAN, KEVENTER GROUP

Bengal Global Business Summit 2015: Come to Bengal… Ride the growth

Posted on January 7, 2015 | by admin2 | Leave a Comment

West Bengal has been taking a number of initiatives to rejuvenate the industrial scenario in the State. The State Government has been undertaking several policy measures and incentives for the overall socio-economic development of the economy.

West Bengal is a key State of India. Recent observations from the Central Statistical Organization show that from 2013 the State’s GDP grew by 8.62% where as the nation’s was 4.7%.

Industry-wise too the growth has been phenomenal – 8.74% while India’s grew by a mere 0.4%. The rise for Agriculture and Service Sectors have been equally impressive. Also, capital expenditure has grown by 44%, indicating that massive investments in infrastructure.

Why invest in Bengal?

Low cost of doing business

Abundant water and waterbodies

Gateway to NE India and to SE Asia; shares boundary with three countries

Road/rail/air connectivity, 3 airports – Kolkata, Bagdogra, Durgapur & 2 sea ports – Kolkata and Haldia; chopper services; waterways; huge fleet of inter-city luxury buses

A new town at Rajarhat: the new destination for financial services, urban infrastructure, housing, business capital, etc.

A leader in MSME-highest investments in the sector in the country during 2012-13 and 2013-14

One of the major textile hubs of the country – garment, hosiery, handloom, khadi, silk

Headquarters of many major banks, Public Sector Undertakings and big business houses

Unique tourist destinations : the Himalayas, the Dooars, Tea Gardens, forests and wildlife, sea beaches; rich cultural and religious heritage

Adequate skilled human resource:Skill development; technical human resource : 225 ITIs and 140 Polytechnics

Highest producer of vegetables in the country; among the highest in rice and fruits, tea; largest producer of fish

Invitation card for Bengal Global Summit 2015

In this endeavour, the Government of West Bengal is organising a Bengal Global Business Summit – Bengal Leads 2015 on 7th and 8th January 2015. The two-day event will include Plenary Sessions addressed by national and international entrepreneurs of stature who will share their thoughts and experiences. The Summit will include Sectoral Breakaway Sessions with the participation of leading industrialists of each sector. The Summit will also organise B2B and G2B interactions. There will be opportunity for Expositions and Exhibition as well.

The identified Focus Sectors for the Summit include: Urban Infrastructure and Housing, IT Software & Hardware, Food Processing, Horticulture & Floriculture, MSME & Textiles, Health Care, Education & Skills, Manufacturing, Energy & Infrastructure, Hospitality & Tourism and Business of Entertainment, Financial Services.

West Bengal Chief Minister Mamata Banerjee, will be there to listen to the entrepreneurs, peruse over the sectoral recommendations and then share her thoughts at the Concluding Plenary (on both the 7th and the 8th January).

The evenings will showcase Bengal’s great heritage in art and culture.

The Summit will be held in the Salt Lake Stadium grounds, near Hyatt Regency, Kolkata.

Invitation card for Bengal Global Summit 2015

This Summit is the best platform to understand the potential of West Bengal in various sectors which will also provide a platform to interact with policy makers, industry leaders, and top level Government officials.

Focus Sectors for the Summit include:

•   Urban Infrastructure and Housing
•   IT Software & Hardware
•   Food Processing, Horticulture & Floriculture
•   MSME & Textiles
•   Health Care, Education & Skills
•   Manufacturing
•   Energy & Infrastructure
•   Hospitality & Tourism and the Business of Entertainment
•   Financial Services

Programme Schedule:

i. At Island-Glass House, Eco Park on January 6, 2015

7:30 PM onwards Special programme marking the beginning of the Bengal Global Business Summit 2015, consisting of musical recitals and interaction. Chief Minister Ms Mamata Banerjee will grace the occasion.

ii. At Plenary Hall, Helipad Ground, Salt Lake Stadium on 7th Jan 2015

Chief Minister Ms Mamata Banerjee will inaugurate the Summit and preside over the Plenary Session. The Union Minster of Minister of Finance, Corporate Affairs and Information and Broadcasting will be the Chief Guest on the occasion. The Union Minister of Road Transport, Highway and Shipping will be the Guest of Honour.

9:30 AM – 10: 30 AM Registration

11:00 AM – 11:05 AM Lighting of Lamp

11:05 AM – 11:15 AM Welcome Address by Mamata Banerjee, the Chief Minister of West Bengal

11:15 AM – 11:22 AM A Film on West Bengal

11:22 AM – 11:32 AM Theme Address by Dr. Amit Mitra ,the Industry and Finance Minister of West Bengal

11:32 AM – 11:45 AM Special Address by the Chief Guest

11:45 AM – 11:50 AM Vote of Thanks by Shri Sanjay Mitra, Chief Secretary, IAS, Government of West Bengal

12 Noon – 1:30 PM Indian Business Leaders’ Speak

2:30 PM – 2:40 PM Address by Guest-of-Honour

2:40 PM – 4:10 PM Global Business Leaders’ Speak

4:10 PM – 4:30 PM Summit Address by Ms Mamata Banerjee, the Chief Minister of West Bengal

4:30 PM – 5:30 PM Visit to Business Expo at Summit Venue,B2B and G2B discussions at Topaz and Sapphire

7:30 PM – 8.00 PM Performance by Musical Maestros

Invitation card for Bengal Global Summit 2015

For 8th Jan 2015

9:00 AM to 11:00 AM MSME Conclave

11:30 AM to 12:15 PM Presentation of Recommendations arising out of Breakaway Sessions

12:15 PM to 1:15 PM Signing of Business Agreements and other Announcements in the presence of Ms Mamata Banerjee, the Chief Minister of West Bengal

1:25 PM to 1:55 PM Closing Session Address by Mamata Banerjee, the Chief Minister of West Bengal

WB CM holds pre-Business Summit meetings with delegates and captains of industry

Posted on January 6, 2015 | by admin2 | Leave a Comment

A day before the Bengal Global Business Summit 2015, WB CM Ms Mamata Banerjee had a series of pre- Summit meetings with various captains of the industry and delegates of foreign countries.

She met with the UKIBC (United Kingdom India Business Council) Chair RT Hon Patrica Hewitt in a very engaging meeting. UKIBC has also expressed interest to learn about the rapid growth in West Bengal and the State’s effort with “ease of doing business”, “openness of investment proposal” and have praised the CM’s effort. CM Ms Mamata Banerjee has termed this meeting as “fruitful”.

She had a one on one meeting with Adi Godrej, Chairman of Godrej group, Niranjan and Darshan Hiranandani of the Hiranandani Group, and Sulajja Firodia Motwani, Joint MD of Kinetic Motor Company.

She also met with His Excellency Ambassador of Israel, Daniel Carmon, who has two concrete proposals which will be taken up for tomorrow.

Bengal Global Business Summit 2015, a brainchild of WB CM Ms Mamata Banerjee, will showcase the investment potential of the State before delegates and guests from 19 countries.

Bengal – Surging ahead in Tourism sector

Posted on January 6, 2015 | by admin2 | Leave a Comment

West Bengal is a land of scenic beauty as well as rich cultural heritage. While on one hand, the State can boast providing tourist attractions such as mountains, wildlife, sea beaches and historical sites, on the other hand, in the field of entertainment, Bengal has been a frontrunner from cinema to theatre, literature to philosophical works.The last three years saw a surge in both tourism and entertainment sector with numerous newer projects commissioned andcompleted.
Tourism

From the majestic hills at Darjeeling, to the beauty of Dooars, the historic places at Burdhaman, Murshidabad, the temples of Bishnupur, the forests at Jangalmahal, the Ayodha hills at Purulia the vibrant city of Kolkata, the Royal Bengal Tiger of Sundarbans, the holy place of Gangasagar and the virgin beaches of Bay of Bengal, Bengal has it all. Sundarbans and Darjeeling have been announced as UNESCO World Heritage site.

Digha

Tourism is an area of focus for the new government. The budgetary allocation has been increased from 32 crore to 180 crore for the year 2014-15 and proper infrastructure are being put to place. Here are a few of the achievements of the government under the leadership of CM Ms Mamata Banneree:

• Tourism is being developed under the PPP model in Gajoldoba, Jharkhali, Sabujdwip. New eco tourism parks, lodges adventure sports and other projects are being undertaken. Tourism parks are being created in Saili, Kunjanagar and Jaldapara. A tourist lodge is being constructed at Jhargram Rajbari under PPP model.

• Darjeeling and Dooars : The work of Eastern Dooars Tourism Circuit is complete and the work is going on the Western Circuit and the Mega Circuit project. Work of eco tourism project in Buxaduar is in the last phase. New tourist lodge is opened in Lamahata and renovation done for Tashi Ding Tourist Lodge. Vacant spaces in tea gardens will be used to develop and build tourist lodge.

Darjeeling

• Digha-Mandarmoni-Tajpur: A new Digha gateway has been constructed. A roadmarine drive from Digha and Mandarmoni is being planned. 36 tourist cottages have been constructed in Udaipur.

• Sunderban and Sagar Island: World’s first Mangrove is being set up. Tourist lodge, tourism complex, eco tourism parks and new jetties are being set up.

Sundarbans

• Jangalmahal: A circuit tourism is being set up in West Midnapore involving Jhargram, Belpahari and Hatibari. The project includes the development of Kankrajhore, Ketkijhora, Gurasini Hills, Ghagra Waterfalls, Ratneshwar Temple etc. Murutbaha Eco-Park is being built in Susunia Hills. Two circuit tourism projects, one involving Bankura, Susunia Hill, Saltora Range has been taken up and the other for Ayodhya Hills, Khayraberia and Murardi Dam are being taken up.

Ajodhya Hills, Purulia

• Gangasagar: CM Ms Mamata Banerjee visited Gangasagar with a team of industrialists. A new deep sea port will be set up with an investment of 12,000 crore. Three new beaches were named as “Dheusagar”, “Rupsagar” and “Bhorsagar”.

• Special emphasis has been given to cultural tourism, heritage tourism and home stay tourism,

• A lot of beautification projects have taken place. A new eco park and a new wax museum has been opened in Rajarhaat.

Entertainment Industry
Bengal has a rich history of heritage and culture. Calcutta is called as the culture capital of India, and under the leadership of CM Ms Mamata Banerjee, entertainment industry has found a new hope. Below are some of the noted achievements

• Six floors in the memory of Satyajit Ray, Ritwik Ghatak, Tapan Sinha, Uttam Kumar, Suchitra Sen and Rituparno Ghosh have been constructed in the studio and the technician studio has been mordernised.

• Kolkata International Film Festival is now celebrated with greater grandeur. Various delegates from all over the globe grace the occasion. For the first time, Children’s Film Festival is also being organised.

• Renovation of various sites have been undertaken like the Minerva Theatre, Mahajati Sadan, Nazrul Manch, State Music Academy and etc

• Special assistance is given to folk artists. Pensions being given to many artists, technicians etc.

• Full scale film cities are being constructed in Dabgram and Baruipur.

Come to Bengal… Ride the growth: bengalglobalsummit.com