Bharatiya Janata Party (BJP)’s Subhendu Adhikari government in West Bengal presented its first budget on Monday. Finance Minister Swapan Dasgupta presented a total budget of Rs 4.39 lakh crore. The budget has also been allocated for the promises made by the BJP government in the manifesto. The government is emphasizing on welfare, infrastructure and promoting the industry sector. The government has reduced the revenue deficit by about Rs 19,000 crore to Rs 21,984 crore compared to last year. The government has made attractive promises but is facing a debt of Rs 8,15,891 crore.
The Central Government has increased the grant for West Bengal. This time the Centre’s assistance has increased by Rs 49,325 crore from the revised grant of last year to Rs 71,393 crore. Finance Minister Swapan Dasgupta said that a huge debt of Rs 8,15,891 crore has been inherited from the previous Mamata Banerjee government. This debt is a big burden for the state. Even after the loan, the government is preparing to spend money on free and public welfare schemes.
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What is there in the budget of West Bengal government?
The BJP government had promised to allocate Rs 36,000 crore on welfare schemes, including the Annapurna scheme. Under Annapurna Yojana, financial assistance of Rs 3,000 every month will be provided to eligible women aged 25 to 60 years. This scheme is replacing Mamata Banerjee’s Lakshmi Bhandar Scheme. More than 1.3 crore women of the state will come under its purview.
Women, Child Development and Social Welfare Department has received the highest allocation of Rs 52,308 crore in the budget. The West Bengal government is preparing to fill the vacant posts in government jobs. 33 percent seats in the new vacancies will be reserved for women. The budget targets 20,000 appointments in the police department, 50,000 in the education department, 1,000 in the Eastern Frontier Rifles and the rest in other departments.
The Finance Minister has allocated a budget of Rs 1,000 crore for special assistance for higher education to unmarried girl students studying in government and aided colleges. The government has allocated a budget of Rs 21,000 crore for the Pradhan Mantri Matruvandan Yojana and other schemes for the weaker sections.
The government is also increasing the honorarium of Asha workers by Rs 5000. Budget has been allocated for everything from new college to installation of sanitary pads and vending machines.
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Loan of Rs 8,15,891 crore, with the help of which the schemes will be completed?
Finance Minister Swapan Dasgupta has claimed that the economy can get back on track under a double engine government. The government has announced many schemes but to know how the schemes will be completed, the government has now prepared a proposal in the budget to take a loan of Rs 80,444 crore from the market. Now the total debt of the state can reach around Rs 9 lakh crore.
What is being expected?
The West Bengal government has claimed that the economic condition of the state has started showing improvements with the double engine. The 3 financial indicators are improving together. Revenue deficit has declined from 2.07 per cent of Gross State Domestic Product (GSDP) to 1.02 per cent. Fiscal deficit has reduced from 3.40 percent to 2.91 percent. This is within the rules prescribed by the Fiscal Responsibility and Budget Management (FRBM) Act 2003. The debt ratio has also reduced slightly to 37.98%.
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Now on which schemes will the money be spent?
Under the Trinamool Congress government, the benefits of many central schemes were not available in West Bengal. Schemes like Ayushman Bharat, PM Kisan, Pradhan Mantri Garib Kalyan Anna Yojana and Pradhan Mantri Awas were not applicable in West Bengal. Now Central Government funds will also be used in these schemes, only the financial burden on the state will be reduced.
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