State's economic growth pegged at 12.8%, higher than India's 9.1% GDP

MP | 13 March 2022 | KOLKATA: Bengal's estimated economic growth through the second and third waves of Covid is projected to be 12.8 per cent, a rate higher than the projected national GDP growth of 9.1 per cent for the 2021-22 financial year. 

Finance minister Chandrima Bhattacharya on Friday tabled the Rs 3.21 lakh crore state Budget at the Assembly, setting out Bengal's social and economic agenda for the upcoming fiscal. She said in 2020-21, while the national economy dipped by 7.25 per cent, Bengal was the torch bearer with a positive growth of 1.06 per cent. 

Earlier, the Chief Minister had said Bengal was the only state to continue with pensions. "Bengal is the only state that is continuing with pension, BJP-ruled states have discontinued pension benefits," CM Banerjee claimed. Bengal government plans to extend the widow pension coverage to 21 lakh beneficiaries, and has set aside Rs 960 crore for the purpose. 

The state will also continue its pension benefits to state employees. Social security pensions of Rs 1,000 per month are provided to 6,80,564 beneficiaries in Bengal under the Widow Pension Scheme and to 16,89,657 beneficiaries under the Old Age Pension Scheme. 

While the state will continue to focus on its social welfare schemes like Lakshmir Bhandar, Krishak Bandhu and Kanyashree, Real Estate, Electric Vehicles and the Tea Sector have received tax exemptions to fuel economic growth. 

Over 1.53 crore women have benefited from Lakshmir Bhandar scheme so far, with the Finance Minister allocating Rs 10,000 crore for the programme in this year's Budget. On allegations by the opposition parties that the monetary support was not creating any asset for Bengal, Principal Advisor to the Chief Minister, Amit Mitra, said Bengal's strategy had been followed by economies across the world during hard times. 

"The Bengal CM gave monetary support to the underprivileged to boost their capacity to consume. It has worked, as is evident from the estimated positive GSDP growth of 12 per cent against the National GDP growth of 9 per cent," he added. 

Around 24.85 lakh beneficiaries have availed the services of Swasthya Sathi Scheme since its inception, with the state already spending Rs 3,212.72 crore for the scheme. 

While Amit Mitra complained that the Central Government had denied Bengal the promised Rs 6,000 crore as GST compensation, CM Banerjee said the Centre owed Rs 90,000 crore, which included GST compensation and damage by the state suffered during Cyclones Amphan, Bulbul and Yaas. 

http://www.millenniumpost.in/kolkata/states-economic-growth-pegged-at-128-higher-than-indias-91-gdp-471029