State sets target of Rs 1.53L cr bank lending for MSME units

Kolkata: The state government has set a target of Rs 1.53 lakh crore lending by the banks for the MSME units across the state in the 2024-25 financial year. The target was set in the first State Level Bankers Committee (SLBC) meeting on Wednesday.

The state had set a target of Rs 1.40 lakh crore lending by the banks for the 2023-23 fiscal but surpassed it by achieving the amount to the tune of Rs 1.45 lakh crore, a senior official of the state MSME department said on the sidelines of the 3rd edition of “World MSME Day” organised by the Bengal Chamber of Commerce and Industry

As per projections by the Union government, against an investment of Rs 1 crore, 37 people get employed in the MSME sector. Hence, the huge lending to the sector will generate more employment.

Before the government under the leadership of Chief Minister Mamata Banerjee assumed power in 2011, the lending by banks was only Rs 8387 crore. Bank lending in MSME takes place in various sectors that include agriculture, agri-allied sectors, fisheries, animal resources development etc. Special Secretary of the state MSME department, Debashis Bandyopadhyay said that there are 89 lakh MSMEs in the state that employ over 1.36 crore people. About 47.11 per cent MSMEs are in the manufacturing sector with the employment being 70 lakhs.

He stated that 27 products in Bengal have got GI (Geographical Indication) tag. “DST (Department of Science and Technology) is responsible for making a list of authorised users of the GI products. We have initiated post GI action by QR code tagging with the authorised users of such GI products. There should be GI tags on boxes or containers of such products. Any buyer can scan the QR code and check the authenticity of the product,” Bandyopadhyay added.

The MSME department has already introduced this QR code technology in some of these GI products and the process of integrating other products is afoot.