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April 9, 2013

Planning Commission approves Rs 30,314 cr outlay for 2013-14 for West Bengal

Planning Commission approves Rs 30,314 cr outlay for 2013-14 for West Bengal

The Planning Commission today approved West Bengal's annual Plan of Rs 30,314 for the current fiscal, which is 17 per cent higher than the outlay for 2012-13, meeting the state's expectations.

The annual plan size of Rs 30,314 crore was approved after a meeting between West Bengal Chief Minister Mamata Banerjee and Planning Commission Deputy Chairman here in the capital.

The Rs 30,314-crore Plan size includes additional central assistance of Rs 6,645 crore. The Commission had approved a Plan size of Rs 25,910 crore for the previous fiscal.

`We have got 17 per cent increase in the outlay for 2013-14 fiscal over last year. We had proposed 17 per cent hike,` West Bengal Chief Minister said.

Briefing the Commission, the state government said that West Bengal's revenue generation hit a record high of Rs 32,000 crore in 2012-13, a growth of 30 per cent.

Out of the Rs 32,000 crore revenue, Reserve Bank has, however, deducted Rs 25,000 crore for meeting West Bengal's interest payment obligation. The state has a debt stock of about Rs two lakh crore.
State Government`s presentation to Planning Commission stated that –
-the GDP has increased by 7.6% as against national average of 4.96%,
-Industrial Growth in West Bengal is at 6.24% whereas the national average is at 1.79%
-growth in Service Sector in West Bengal is at 9.28% whereas the national average is at 6.59%
The state government also boasted about receiving investments of Rs 1.12 lakh crore in the West Bengal since May 2011, which has a potential to generate 3.14 lakh jobs.

During the meeting, the Commission said West Bengal has the image of strong industrial centre and it was keen to extend support in improving business regulatory environment, encourage cluster approach in facilitating better use of technology and for skill up gradation.