Bengal records highest bank credit flow to MSME sector for last 5 years, claims AITC

Kolkata, Jan 11 (KNN) Mamata Banerjee led All India Trinamool Congress (AITC) today said that Bengal has recorded the highest bank credit flow to Micro, Small and Medium Enterprises (MSME) sector for last five years across the nation to the tune of USD 15 billion.

Apart from highest MSME credit flow, the state is second largest in the country in terms of the number of MSME enterprises. There are 3.7 million enterprises doing business in Bengal, AITC said in a release.

The involvement of people in Bengal’s MSME sector is also heart-warming thing to promote among the Indian and overseas investors, the release added.

The state is the second largest in the country in terms of number of people employed in MSMEs, which is 8.6 million.

Bengal has a steady 8 per cent growth rate in MSMEs in 2014-15 and it has 19 per cent MSME’s share of state’s Gross Value Added (GVA) in 2014-15. The state government has set up a USD 30 million or approximately Rs 200 Crore Venture Capital Fund (VCF) to ensure a fast MSME growth.

The government also set up MSME Felicitation Centre (MFCs) in every district to provide single window services to the entrepreneurs.

The West Bengal government created 331 new MSME clusters. The market value of the fixed asset in MSME in Bengal is USD 5.9 billion – which is considered to be her single-handed achievement, said the party release.