24 May, 2011, 1241 hrs IST, Pradeep Thakur, TNN
NEW DELHI: West Bengal chief minister Mamata Banerjee may have complained of inheriting empty coffers from the Left Front government that ruled the state for 34 years, but cold statistics reveals that it created a base for her to build upon.
During the last few years of the Left rule, Bengal witnessed rapid industrialization. Former chief minister Buddhadeb Bhattacharjee steered the state to fourth position in terms of rapid growth of industry even better than highly industrialized Gujarat and Andhra.
The Medium and Small Enterprises (MSEs), considered as the backbone of industry in any state, has shown largest expansion, catapaulting West Bengal at number four, only after Maharashtra, Tamil Nadu and Delhi. Gujarat is a distant No. 7 and Andhra Pradesh a shade above at 6.
According to RBI data on credit growth to MSEs — one of the parameters to judge expansion of industry in a state — Bengal has shown the highest credit intake. In 2010, it had an outstanding credit of more than Rs 27,800 crore, while Gujarat (Rs 20,500 crore) and Andhra Pradesh (Rs 22,500 crore) were far behind. Amid depressing saga of backwardness, Bhattacharjee’s feat can be a good starting point for Banerjee, who has promised to usher in change in the `anti-capitalist’ state.
In Bengal, the outstanding credit to MSEs has shown remarkable growth. It was Rs 13,222 crore in 2008, which went up to Rs 15,260 crore in 2009 and Rs 27,865 crore in 2010. Outstanding credit to MSEs in Maharashtra was Rs 71,566 crore in 2010 while it was Rs 41,787 crore in Tamil Nadu last year.
To provide an impetus to the MSEs sector, the PM had constituted a taskforce which had gone into areas of credit, taxation, labour, infrastructure, technology, skill development, marketing, etc., and had accordingly advised banks to achieve a 20% year-on-year growth in credit to micro and small enterprises along with a 10% annual growth in the number of micro enterprises accounts in progressive states.
Sufficient credit is being made available to micro enterprises within the MSE sector as per the RBI guidelines to banks. Hence, 60% of MSE advances are earmarked for micro enterprises. The banks have been advised that the allocation of 60% of MSE advances to the micro enterprises is to be achieved in stages such as 50% in 2010-11, 55% in 2011-12 and 60% in 2012-13. The task force was headed by principal secretary to the PM.
During the last few years of the Left rule, Bengal witnessed rapid industrialization. Former chief minister Buddhadeb Bhattacharjee steered the state to fourth position in terms of rapid growth of industry even better than highly industrialized Gujarat and Andhra.
The Medium and Small Enterprises (MSEs), considered as the backbone of industry in any state, has shown largest expansion, catapaulting West Bengal at number four, only after Maharashtra, Tamil Nadu and Delhi. Gujarat is a distant No. 7 and Andhra Pradesh a shade above at 6.
According to RBI data on credit growth to MSEs — one of the parameters to judge expansion of industry in a state — Bengal has shown the highest credit intake. In 2010, it had an outstanding credit of more than Rs 27,800 crore, while Gujarat (Rs 20,500 crore) and Andhra Pradesh (Rs 22,500 crore) were far behind. Amid depressing saga of backwardness, Bhattacharjee’s feat can be a good starting point for Banerjee, who has promised to usher in change in the `anti-capitalist’ state.
In Bengal, the outstanding credit to MSEs has shown remarkable growth. It was Rs 13,222 crore in 2008, which went up to Rs 15,260 crore in 2009 and Rs 27,865 crore in 2010. Outstanding credit to MSEs in Maharashtra was Rs 71,566 crore in 2010 while it was Rs 41,787 crore in Tamil Nadu last year.
To provide an impetus to the MSEs sector, the PM had constituted a taskforce which had gone into areas of credit, taxation, labour, infrastructure, technology, skill development, marketing, etc., and had accordingly advised banks to achieve a 20% year-on-year growth in credit to micro and small enterprises along with a 10% annual growth in the number of micro enterprises accounts in progressive states.
Sufficient credit is being made available to micro enterprises within the MSE sector as per the RBI guidelines to banks. Hence, 60% of MSE advances are earmarked for micro enterprises. The banks have been advised that the allocation of 60% of MSE advances to the micro enterprises is to be achieved in stages such as 50% in 2010-11, 55% in 2011-12 and 60% in 2012-13. The task force was headed by principal secretary to the PM.
