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The Print
5 days ago
- Business
- The Print
Bengal focuses on food processing, horticulture to boost investment
'The state's food processing sector has witnessed significant growth and the government is committed to attracting more investments in this sector,' Roy said. Speaking at an Assocham-organised conclave, Food Processing Industries and Horticulture Minister Arup Roy said the state is focusing on modernising horticulture with advanced planting materials, high-yielding seeds, model nurseries, organic farming, post-harvest management, cold chain infrastructure, and promoting protected cultivation. Kolkata, Jul 15 (PTI) West Bengal is ramping up efforts to boost its food processing and horticulture sectors through a series of initiatives aimed at attracting investment and modernising farming practices, a state minister said on Tuesday. He added that the area under maize cultivation will be expanded by 60,000 hectares over the next three years to meet rising demand for animal, poultry and fish feed. Roy also highlighted the importance of empowering women in agriculture, noting that they make up 70 per cent of the sector's workforce in the state. Highlighting West Bengal's potential, Smaraki Mahapatra, department secretary, said the state produces about 163 lakh tonnes of vegetables and 40 lakh tonnes of fruits annually, with significant surpluses that can be tapped for exports through investments in cold chains and logistics. Mahapatra said that the government is supporting tissue culture for crops such as banana, pineapple, blueberry and ginger and sees strong investment opportunities in value addition and post-harvest infrastructure. 'In FY25, 24,213 units in the food processing sector were set up in the state. A partnership between government, farmers, FPOs and entrepreneurs is key to unlocking the sector's full potential,' the officer said. West Bengal's unique geography, stretching from the Himalayas to the coast, makes it ideal for diverse agricultural activities, including the cultivation of medicinal plants with potential in Ayurvedic treatments, Mahapatra added. PTI BSM NN This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
28-04-2025
- Business
- The Print
UCO Bank posts 24pc on-year jump in consolidated net profit to Rs 665.7 cr in Jan-Mar
Consolidated total income for the period under review was around Rs 8,136 crore, up from Rs 6,984 crore a year ago, it said. The state-owned lender's bottomline stood at Rs 537.86 crore in the corresponding quarter a year ago. Kolkata, Apr 28 (PTI) UCO Bank on Monday reported a nearly 24 per cent year-on-year jump in consolidated net profit to Rs 665.72 crore for the quarter ended March. For the full year ended March 31, 2025, UCO Bank's consolidated net profit stood at Rs 2,468 crore compared to Rs 1,671 crore in the 2023-24 fiscal. The bank's asset quality improved, with gross non-performing assets (NPA) ratio declining to 2.69 per cent as of March 31 from 3.46 per cent a year ago, while the net NPA ratio fell to 0.50 per cent from 0.89 per cent. The provision coverage ratio stood at 96.69 per cent. The lender's total business rose 14.12 per cent year-on-year to Rs 5,13,527 crore as of March, driven by a 17.72 per cent growth in gross advances to Rs 2,19,985 crore and an 11.56-per cent increase in total deposits to Rs 2,93,542 crore. The retail, agriculture and MSME (RAM) portfolio grew 25.74 per cent on-year to Rs 1,22,613 crore, led by a 35.09-per cent surge in retail advances, a 20.02-per cent rise in agriculture advances, and an 18.55-per cent growth in MSME lending. As of March 31, UCO Bank had 3,302 domestic branches, two overseas branches (Hong Kong and Singapore), and one representative office in Iran. Government holding during the latest quarter was diluted to 90.95 per cent from 95.39 per cent due to capital infusion. PTI BSM RBT This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
