State proposes Rs 3.21L cr Budget for FY23, aims for 1.20 cr new jobs

KOLKATA: Bengal Finance Minister Chandrima Bhattacharya on Friday presented Rs 3.21-lakh crore Budget for the 2022-23 fiscal, proposing to create 1.20 crore new employment in the next four years in government, private and other sectors, including self-employment, incentives for battery-operated and CNG vehicles and tax relief for the tea sector. Bhattacharya said the state government would continue to provide benefits to all sections of people through its various schemes for 2022-23.

Total Budget allocation for 2022-23 will see 3.8 times growth to Rs 3,21,030 crore as against the figure in 2010-11, when the Trinamool Congress (TMC) government assumed power, while the development allocation is projected to increase 6.7 times to Rs 1,26,305 crore.

Revenue receipts are pegged at Rs 1,98,047 crore, while the state government proposes to raise public debt to the tune of Rs 1,14,958 crore. Capital expenditure for the fiscal is estimated to be Rs 33,144 crore, and revenue expenditure is pegged at Rs 2,26,326 crore.

Allocation towards the social service sector is also projected to increase 10.7 times to Rs 73,441 crore from the 2010-11 figure. Bhattacharya said the Budget proposes additional allocation of Rs 8 lakh for widow pension from April 1, taking the total coverage to more than Rs 21 lakh with a provision of Rs 960 crore. So far 13 lakh widows used to receive pension and the annual expenditure was Rs 1,560 crore. Now, a total of 21 lakh widows will receive pension.

For the development of North Bengal, an allocation of Rs 798 crore has been made, she said.

Bhattacharya said the state government would provide social pension to more than 70 lakh people with the financial involvement of Rs 9600 crore. Lakshmir Bhandar, where assured income support is given to 1.52 crore women, has a financial involvement of Rs 10,000 crore annually. The state government has proposed to do away with the Rural Employment Cess (RE) under the West Bengal Rural Employment and Production Act 1976 and Education Cess under the West Bengal Primary Education Act 1973.

Bhattacharya said because of ease of doing business, Bengal has become a favourite destination. Many foreign countries have shown keen interest in the proposed Bengal Global Business Summit which is scheduled to be held in April 2022. She said till December 2021, West Bengal Industrial Development Corporation (WBIDC) has allotted 886.13 acres of industrial land to 16 units, involving investments to the tune of Rs 4,172. 19 crore. Development of infrastructure for new industrial parks has been undertaken, including Gems and Jewellery Park at Ankurhati, Food park Phase II at Sankrail, Rishi Bankim Silpaudyan at Naihati and a garment park in Budge Budge.

She said under the Banglar Awas Yojana Bengal government had sanctioned 1,45,855 houses in 2021-22 at an expenditure of Rs 4,118 crore. Since the inception of the scheme ( 2016-17), a total of 34,57,163 houses have been sanctioned in the rural housing scheme.

The Budget also proposes exemption from registration fee and road taxes for two years for battery-operated and CNG vehicles, both two and four-wheelers. Bhattacharya said the exemption of 2 per cent rebate on stamp duty and 10 per cent rebate on circle rate of land would be extended for the next six months. The Budget seeks to provide relief to the tea industry by exempting rural employment cess and waiving agricultural income tax for the 2022-23 fiscal.

The Budget has pegged the state's own tax revenue to rise 3.76 times to Rs 79,347 crore for the fiscal 2022-23. The minister said the fiscal deficit as a percentage of Gross State Domestic Product is estimated to come down to 3.64 per cent in 2022-23 compared to 4.24 per cent in 2010-11. The Budget pegged a drop in revenue deficit to 1.65 per cent of GSDP in the next fiscal.

BJP supporters shouted slogans and tried to interrupt the speech of Bhattacharya. Finally, the BJP supporters staged a walkout. However, Bhattacharya completed her speech despite the chaos and tabled the Budget for 2022-23.

Speaker Biman Bandyopadhyay congratulated Bhattacharya for completing the speech despite the ruckus. Chief Minister Mamata Banerjee criticised the BJP for trying to disrupt the speech of Bhattacharya. "BJP does not have any culture and is intentionally trying to disrupt the Assembly," she said.