Kolkata: Agreeing upon the state's demand on inclusion of various parameters for calculation of the State Gross Domestic Product (SGDP), the Centre has acknowledged the increase of the same by 9.15 percent in Bengal in the 2017-18 financial year. This comes at a time when India's GDP is 6.70 percent.
Most importantly, the growth in the manufacturing sector in Bengal in 2017-18 is 10.20 percent, whereas it stands at 5.74 percent for India.
The revised figures of the SGDP, Gross Value Added (GVA) and the growth in industry, including the state's achievements in manufacturing, mining, electricity and construction sectors will be submitted to the Fifteenth Finance Commission that recently visited Bengal.
The state Finance minister Amit Mitra expects that the Finance Commission would consider the new figures in making its recommendations, as it had stated during its visit: "let the differences over the SGDP get settled first."
The Finance minister said at Nabanna on Thursday: "The Centre's acknowledgement of the increase of 9.15 percent SGDP in 2017-18 has been informed to Chief Minister Mamata Banerjee, whose administrative review meetings, that have ensured proper implementation of all projects, played a crucial role in the increase of the same."
He further said that increase in capital expenditures in the state has played a crucial role in the increase of the SGDP. Mitra said in the same breath that the capital expenditure in the state in 2010-11 was Rs 2,225 crore, which increased to Rs 21,561 crore in 2017-18. Explaining the state's demand on inclusion of various parameters for calculation of the SGDP, Mitra said: "Central Statistical Organisation (CSO) has started using Ministry of Corporate Affairs (MCA) data 21 for assessing the GDP. The MCA data is prepared on the basis of sample tests carried out in all the states. So there was no segregated figure and at the same time, there was no clear picture on the industries taken into consideration to calculate the GDP. Our expert team held meetings with CSO authorities and urged to take state Public Sector Utilities, local bodies, non-departmental enterprises, autonomous bodies, etc. into consideration to calculate the GDP. Finally, they had agreed upon the same, following a series of discussions. It is a great success for Bengal."
In the Industry sector, Bengal has witnessed a growth of 16.29 percent in 2017-18, compared to 5.54 percent for India.
The state's GVA stands at 9.59 percent compared to 6.50 percent of the country. The GDP in current prices is Rs 10.20 lakh crore. The target was Rs 10 lakh crore.