Bank CD ratio in Tripura rises to 66% in 16 months: CM

The credit-deposit (CD) ratio of banks in Tripura increased by 18 per cent to 66 per cent from 48 per cent in the 16-month of the Bharatiya Janata Party (BJP) rule, Chief Minister Biplab Kumar Deb said.

However, it was still below the national average, said the Chief Minister while addressing a seminar on "Business and Industrial Development", here on Friday.

Remarking that the CD ratio of Gujarat is 120 per cent, Deb said it could be increased in Tripura by expanding trade, business and investment. Deb said Prime Minister Narendra Modi asked him at the recent NITI Aayog meeting to make Tripura the Rs 15,000 crore economy from the present Rs 8,000 crore economy.

Had the Prime Minister not provided Rs 2,129 crore additional assistance, it would have been difficult to run the government in the state, said Deb, who is also the Tripura BJP chief.

Stating that when the BJP came to power, Tripura had Rs 13,000 crore loan liabilities left behind by the Left Front government, the Chief Minister said the state government's biggest monthly expenditure, Rs 820 crore, was on account of salaries to the government employees. Around 4.27 per cent people were in government jobs in Tripura, he added.

In the past 16 months, the tax revenue had increased around three times, he said and added, there was a Rs 400 crore business opportunity in the fisheries sector. Over 20,000 tonnes of fish come to Tripura daily from Bangladesh, West Bengal and Andhra Pradesh. He also pointed to huge business scope in rice milling, tea production, fruit processing, specially the pineapple and jackfruit, handicrafts and tourism sectors. 

Stating that the Centre was providing 30-80 per cent subsidy for new businesses, he said the Tripura Industrial Development Corporation (TIDC) was also extending subsidy to new industrial units. 

To boost growth and make Tripura a model state, rallies and meetings by political parties must be reduced and working hours increased, the Chief Minister said. IANS