The term was coined on a Select magazine article written in 1992 by Stuart Marconi showing 5 new bands at the time. Those bands were The Auteurs, Denim, Saint Etienne, Pulp & Suede.
Neither of those bands sound anything alike, in fact Britpop itself didn't have a sound until around 95/96 when you got all those generic bands that jumped on the bandwagon.
Belle & Sebastian were a whole part of that Glasgow / Chemikal Underground scene of bands that included them, Arab Strab, Mogwai, Telstar Ponies, The Delgados, Comet Gain, Urusei Yatsura (With Alex Kaprianos on Keyboards) Camera Obscura and a whole load of others. They were always included at the time I see no reason why they shouldn't be now.
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Urb's RYM Stuff
Most people sell their soul to the devil, but the devil sells his soul to Nick Cave.
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