Mitra, Mishra differs over Bengal's debt status

West Bengal finance minister Amit Mitra and CPI(M) member and Leader of the Opposition Surya Kant Mishra today differed on the amount of debt piled up during 34 years of Left Front rule and the quantum likely to accumulate during the first five years of Trinamool rule.
Replying to a question in the Assembly raised by Mishra about the quantum of market borrowings during the fiscals 2012-13, 2013-14 and 2014-14 of Trinamool regime, Mitra said that the amount was Rs 63,400 crore.
Mitra said that 92 per cent of this amount was spent in repaying the principal amount and interest for loans taken during the previous Left Front regime.

To this, Mishra said that earlier the finance minister had informed the Assembly that the amount of debt accumulated during 34 years of Left Front rule was Rs 1.87 lakh crore.
But during the present Trinamool rule which started from May 2011, the incremental debt was Rs 1.11 lakh crore, he said, indicating that proportionate loan taken during the Trinamool regime was much higher.
He also said that revenue growth was also falling and the entry tax which was levied by the present government could not be implemented.

Mishra also said that the government was also indulging in wasteful expenditure as well.

Mitra countered that the state had been able to bring down the fiscal and revenue deficits while the debt/GSDP ratio was falling.
When SUCI member Tarun Naskar asked whether the government was planning about giving more DA to its employees, Mitra said that the question was not pertinent at all.