India News | Bengal Pegs Fiscal Deficit at 3.6pc, Projects 11.94pc Nominal GDP Growth: Amit Mitra for 2025-26
Get latest articles and stories on India at LatestLY. West Bengal has pegged its fiscal deficit at 3.6 per cent of its Gross State Domestic Product (GSDP) for the 2025-26 budget, which is lower than the Centre's 4.4 per cent fiscal deficit, principal chief advisor to chief minister Mamata Banerjee, Amit Mitra, said on Wednesday.
Kolkata, Feb 12 (PTI) West Bengal has pegged its fiscal deficit at 3.6 per cent of its Gross State Domestic Product (GSDP) for the 2025-26 budget, which is lower than the Centre's 4.4 per cent fiscal deficit, principal chief advisor to chief minister Mamata Banerjee, Amit Mitra, said on Wednesday.
He added that the state's nominal GDP is projected to grow by 11.94 per cent in 2025-26, and development expenditure will increase by 16.17 per cent, while capital expenditure is set to rise by 10.7 per cent.
Banerjee emphasised the significant debt burden carried by the state, which she attributed to the previous government.
She said, "Over Rs 80,000 crore has been allocated for loan repayment," and criticised the Centre for halting fund releases under key welfare schemes such as MNREGA and housing, suggesting that if the state had received these funds, it could have allocated more resources for social welfare and housing projects.
She also pointed out that the budget has earmarked Rs 24,000 crore for housing benefits.
The total debt of West Bengal is projected to reach Rs 7.71 lakh-crore in 2025-26, up 9.2 per cent from Rs 7.06 lakh-crore in 2024-25. However, Mitra downplayed concerns, asserting that the state's per capita debt remains better than the national average.
Meanwhile, state tax revenue is expected to grow 12.7 per cent to Rs 1,12,543 crore in 2025-26, compared to Rs 99,863 crore in the previous fiscal.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)