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October 13, 2019

Economy of Bangla on an upswing

Economy of Bangla on an upswing

The economy of Bangla is on an upswing. In the last eight years, the State’s Gross Domestic Product has more than doubled, revenue income has increased manifold and the GDP growth rate of the State is the highest in the country.

On the auspicious occasion of Kojagori Lokkhi Pujo, here’s a snapshot of how Bangla’s economy is flourishing:

Bangla is at the top of the list of states for GDP growth rate, achieving 12.58 per cent during 2018-19

In May 2011, the State’s Gross Domestic Product (GSDP) was Rs. 4,74,000 crore. In 2018-19, the GSDP of the State will touch Rs. 11,55,000 crore

In 2017-18, while the country’s Industrial Growth was 5.54%, the State’s Industrial Growth was 16.29%— an increase of more than threefold

State Own Tax Revenue, which was a meagre Rs. 21,128 crore in 2010-11 has grown to Rs. 57,700 crore in 2017-18, more than two and a half times increase

From 2011, the State Plan Expenditure of Rs. 3,45,000 crore and Capital Expenditure of Rs. 92,000 crore have been spent on creation of infrastructure and social assets

Even the production of food grains has increased considerably in the State. This has led to an increased in the income of farmers:

The production of food grains has increased from 148.10 lakh MT in 2010-11 to 182.92 lakh MT in 2017-18.

The total warehousing capacity has been increased from a meagre 63,000 MT in 2011 to 9.16 lakh MT in 2017-18

At a time when farmers in many States are forced to commit suicide, the average income of farmers in Bangla increased three fold from Rs 91,000 in 2010-11 to Rs 2,91,000 in 2017-18