Specific Information Carrier
KOLKATA: Stressed with Rs 70,000 crore debt, the West Bengal govt on Wednesday handed a invoice within the Meeting to support its borrowing capability. The transfer to amend the West Bengal Fiscal Accountability and Funds Control Act, 2010, was once initiated within the wake of the Centre pausing the discharge of finances beneath the MGNREGA scheme. Mamata Banerjee-led govt is now determined to stay the glide of finances within the beneficiaries’ accounts unaffected ahead of the panchayat elections subsequent yr.
Previous, the Union finance ministry had determined to mend the web borrowing ceiling for the state at 3.5 according to cent of the Gross State Home Product (GSDP) for 2022-23, and an extra borrowing capability of 0.5 according to cent of the GSDP.
“The state goes via acute fund crunch. In contemporary conferences, the CM has requested bureaucrats to determine tactics to generate influx. The federal government has no approach out instead of borrowing more cash to stay the welfare schemes alive,” mentioned a bureaucrat.
The Union govt had previous directed the state to recuperate the cash which was once allegedly pilfered through the panchayat and zila parishad functionaries, and the state had initiated strikes to apply the directive.
Revealing the deficient image of the cash-strapped and industry-starved state, contemporary statistics launched through the Central Trade and Trade Ministry display that from January to July, investments value Rs 1.17 lakh crore got here into India, of which West Bengal were given simplest Rs 1,663 crore. The state’s income most commonly comes from stamps and registration charges, state items and repair tax, gross sales tax on petrol and state excise.
KOLKATA: Stressed with Rs 70,000 crore debt, the West Bengal govt on Wednesday handed a invoice within the Meeting to support its borrowing capability. The transfer to amend the West Bengal Fiscal Accountability and Funds Control Act, 2010, was once initiated within the wake of the Centre pausing the discharge of finances beneath the MGNREGA scheme. Mamata Banerjee-led govt is now determined to stay the glide of finances within the beneficiaries’ accounts unaffected ahead of the panchayat elections subsequent yr.
Previous, the Union finance ministry had determined to mend the web borrowing ceiling for the state at 3.5 according to cent of the Gross State Home Product (GSDP) for 2022-23, and an extra borrowing capability of 0.5 according to cent of the GSDP.
“The state goes via acute fund crunch. In contemporary conferences, the CM has requested bureaucrats to determine tactics to generate influx. The federal government has no approach out instead of borrowing more cash to stay the welfare schemes alive,” mentioned a bureaucrat.
The Union govt had previous directed the state to recuperate the cash which was once allegedly pilfered through the panchayat and zila parishad functionaries, and the state had initiated strikes to apply the directive.
Revealing the deficient image of the cash-strapped and industry-starved state, contemporary statistics launched through the Central Trade and Trade Ministry display that from January to July, investments value Rs 1.17 lakh crore got here into India, of which West Bengal were given simplest Rs 1,663 crore. The state’s income most commonly comes from stamps and registration charges, state items and repair tax, gross sales tax on petrol and state excise.
