WB Budget Session to begin today

Budget Session of the West Bengal Assembly will begin tomorrow and conclude on September 14.

Finance Minister Amit Mitra is likely to make a statement in the House on August 11 to clarify doubts raised by the Opposition about placing a full-fledged budget in the House, Assembly secretariat sources said on Tuesday.

Government Chief Whip Sobhandev Chattopadhyay said the budget discussions would begin from August 11. Business has been fixed till August 19 by the Business Advisory Committee. He said that there would be a workshop for the legislators on August 13.

Recently, the Centre has confirmed release of Rs 21,614 crore to the state.

In June this year, the Planning Commission had approved a Rs 22,214 crore annual plan for the state. However, the chief minister said she was not satisfied by the fund, which does not qualify as a “financial package”, as only Rs 9,240 crore will be in the form of grant-in-aid for developmental work, with the rest, Rs 12,374 crore, being loans.

The Centre has also raised the state's borrowing capacity by Rs 2,706 crore from the present limit of Rs 17,828 crore, under the Fiscal Responsibility and Budget Management Act (FRBM). Thus, the state would also be entitled to raise another Rs 6,600 crore under the FRBM.

Also, with the state having repaid Rs 3,800 crore of central loans, it is entitled to a loan of another Rs 3,437 crore from the Centre.

"Though I am not fully satisfied, I thank the Prime Minister and the Union Finance Minister. I know they have to follow rules," Banerjee had said.

Out of Rs 9,240 crore grant, Rs 300 crore will be used for agriculture development, Rs 100 crore for green energy development and another Rs 94 crore for Junglemahal.

"The allowances given by the Centre will enable resumption of development work. At least, we will get some relief for three or four months," the chief minister had said. 'West Bengal's debt burden at present stands at Rs 2 lakh crore, and is among the three most indebted states.