Tripura’s Bank CD to Touch National Average Soon: Biplab Kumar Deb

Agartala: The credit-deposit (CD) ratio of banks in Tripura increased by 17 per cent to 56 per cent from 39 per cent in the 18-month of the Bharatiya Janata Party (BJP) government rule, said Chief Minister Biplab Kumar Deb, while claiming that the CD ratio would take to the national average of 78 percent soon.

He said that, however, Tripura's CD ratio is still below the national average of 78 per cent and with the ambitious plans undertaken and banks were asked to provide more loans under the various schemes including Pradhan Mantri Mudra Yojana (PMMY), the ratio would touch the national average soon.

“The CD ratio of Gujarat and Maharashtra is much more than the national average. The ratio could be increased in Tripura by expanding trade, business and investment and following the recent relaxation of corporate tax by the Union Finance Minister Nirmala Sitharaman,” Deb told the media on Tuesday.

He said that with the launching of National Career Service in Tripura, the number of unemployed people reduced to only 2.56 lakh from over 8 lakh during the previous Left Front government regime.

“In the recent meeting of the North Eastern Council in Guwahati, the eight Chief Ministers of the northeastern states have decided to take ambitious plans and initiative to further boost up the tourism in the region, which is much more beautiful than Switzerland,” the Chief Minister said.

“Union Home Minister Amit Shah, who presided over the NEC meeting earlier this month, said that he would ask the tourism ministers of other states to help increase the tourist flow in the northeastern region. Also the recent corporate tax relaxation in hotel accommodation, the tourism sector would be boosted tremendously,” he said.

Deb said that following the recent huge corporate tax relaxation, Union government would lose tax revenue of Rs 1.42 lakh crore, but Rs 7 lakh crore to Rs 8 lakh crore would be infused in the market and the country's economy would be boosted.

“With the guidance of Prime Minister Narendra Modi, following the announcement of the corporate tax relaxation by the Union Finance Minister, the foreign companies and investors would also be encouraged to invest in India,” he added.

According to the Chief Minister, after the recent reduction, the corporate tax in India is the lowest in the world and it would attract huge foreign investment in the country.

Deb, who also holds the Industries and Commerce Department, claimed that there are huge scopes to invest in rubber, tea, bamboo and small scale industries sector in Tripura and the skill development mission has been working on the same directions.

“A small instance I can give you how Tripura’s youths, who were job seekers, are now becoming job creators. Through Pradhan Mantri Sampada Yojana, subsidised loans of Rs 28 crores have been sanctioned to seven individuals to set up rice mills and other small manufacturing units,” the Chief Minister added. (IANS)

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