Kolkata: West Bengal Chief Minister Mamata Banerjee on Wednesday emphasized the pivotal role of micro, small, and medium enterprises (MSMEs) in strengthening the state’s economy and generating employment. Speaking at an event organized by the Confederation of West Bengal Traders Association, Banerjee stressed that MSMEs and local shops form the backbone of West Bengal’s commercial landscape, helping to sustain economic vibrancy even amid fiscal challenges.
Strategic Location Boosts Economic Potential
Highlighting the state’s strategic geographical position, Banerjee said West Bengal has emerged as a commercial hub for Eastern and Northeastern India. “Small is beautiful. MSMEs keep the economy vibrant,” she remarked, noting that policy support for these enterprises has helped reduce unemployment and provided access to loans for small traders.
Addressing Debt Allegations
Responding to claims that West Bengal’s debt has surged to nearly seven lakh crore rupees, the Chief Minister dismissed such allegations as misleading. While she did not disclose the exact amount of outstanding debt, she underscored that the state operates strictly within the Fiscal Responsibility and Budget Management (FRBM) Act framework. She added that development projects continue despite a substantial backlog of 1.97 lakh crore rupees owed by the central government. “We must keep all projects running, even if the center fails to settle its dues,” she said.
Export Growth and Business Development
Banerjee highlighted the state’s growing business ecosystem, citing that exports from West Bengal have crossed 1.15 lakh crore rupees and that over 2.5 lakh companies are now registered in the state. She emphasized that the state’s efforts in business facilitation have improved its performance in national rankings, reflecting a more investor-friendly environment.
Agricultural Advancements and Local Economy
The Chief Minister also pointed to West Bengal’s leadership in agriculture, with significant production of key crops such as rice and jute. She linked the growth of the MSME sector to the overall economic development of rural and semi-urban areas, noting that over 93 lakh MSME units are operational across the state.
Commitment to MSMEs and Local Traders
Banerjee reiterated her government’s commitment to supporting small businesses, local shops, and traders as vital components of the economy. She highlighted ongoing initiatives to provide financial and policy support aimed at strengthening the sector, encouraging entrepreneurship, and ensuring that economic development benefits all segments of society.
By focusing on MSMEs, exports, agriculture, and infrastructure development, the West Bengal government aims to position the state as a leading economic hub in Eastern India, fostering growth and employment opportunities across both urban and rural areas.
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