West Bengal to Raise Rs 81,972 Crore Loan, Mamata Faces Criticism Over Rising Debt

Baby Chakraborty, KalimNews, February 13, 2025, Kolkata : The West Bengal government has announced plans to raise a new loan of Rs 81,972 crore from the market, as revealed by Chief Minister Mamata Banerjee during a press conference following the budget session on Wednesday afternoon. This announcement comes as part of the last full budget of the Mamata government before the 2026 assembly elections.

The state's Minister of State for Finance, Chandrima Bhattacharya, presented the full budget in the assembly on the same day, followed by a press conference with Chief Minister Mamata Banerjee, Bhattacharya, and former Finance Minister Amit Mitra. In the conference, Mamata Banerjee discussed the state's financial outlook and the necessity of taking this significant loan.

However, the announcement has drawn sharp criticism from opposition leaders, particularly CPI(M) State Secretary Mohammad Salim. Salim questioned the rationale behind the increasing debt, stating that the state's loan has risen fourfold under the Trinamool Congress government. He expressed concern over where the money from this debt is going, and whether there are tangible benefits for the people of the state.

"What is happening with so much debt? Where is the money from this debt going? What are the obligations? Loans are being taken from the market at high interest rates to satisfy hobbies," Salim remarked. He further criticized the government's lack of focus on addressing unemployment, asking, "How many jobs have been created, how many employment plans are there? We don't know the details."

Salim also took aim at the state’s housing scheme, sarcastically commenting on the ongoing discussions surrounding it, suggesting that the government's priorities are misplaced. The opposition's criticism highlights the growing concerns over West Bengal's financial management as the state prepares for the upcoming elections.