ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Who Won in West Bengal


the IDCO's contribution would be Rs 48 lakhs, or 64 per cent. This is no-cost finance for the company till such tune as it chooses to declare a dividend. The IDCO is also underwriting shares worth Rs 24 lakhs out of the Rs 29.50 lakhs proposed to be issued to the public. In addition it is likely that the project has received loan assistance from state go- vemment agencies. On the whole, this is a good example of the irrational lengths to which state governments arc prepared to go supposedly to foster industries within their borders. The Orissa government can hardly claim to be flush with funds. Parts of the state are currently in the grip of a famine and the government has itself complained that famine relief work has suffered for want of money. In the circumstances, how can it justify putting up most of the funds required for the setting up of a brewery?

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