WBIDC to pay interim dividend for the first time
Kolkata: For the first time since its inception, the West Bengal Industrial Development Corporation (WBIDC), is all set to pay about Rs57.58 lakh to the State Government by way of an interim dividend for the fiscal 2005-06.

Announcing this, the State's commerce and industry minister and the chairman of WBIDC, Nirupam Sen, said here on Friday that the corporation was confident that there would be sufficient surplus in the current fiscal ending March 2006. Sen said the operating profit was expected to increase by 28 per cent in the whole of 2005-06 from about Rs17.5 crore of last year to over Rs21 crore, while profit after tax was expected to touch about Rs10.25 crore from about Rs7.49 crore last year.

The minister told newspersons that WBIDC was considering a proposal of setting up a venture capital fund and that ICICI Winfra had been entrusted the job of examining the financial viability of such a fund. The fund would help support capital needs of first generation entrepreneurs.
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