With the Lok Sabha polls only a few weeks away, Mamata Banerjee-led West Bengal government in its Budget announcement on Monday declared annual financial assistance of Rs 1 lakh each for 50,000 unemployed youth in the state for their self-employment.
The state also claimed to have created over 900,000 jobs in FY19.
State Finance Minister Amit Mitra presented the Budget with a nearly 11 per cent increase in budgetary allocation for FY20 at Rs 237,964 crore, and a deficit of Rs 9 crore.
The government exceeded the target for the state’s own tax revenue collection for 2018-19 by nearly 9 per cent. For FY19, the state’s tax revenue stood at Rs 60,079 crore as per revised estimate, against about Rs 55,201 crore in the budget estimate.
The share of state goods and services tax (SGST) stood at Rs 27,173 crore in FY19, against Rs 23,060 crore in FY18, a rise of about 18 per cent. The total revenue receipt for 2018-19 (revised) stood at about Rs 152,625 crore, against a budget estimate of about Rs 146,748 crore for the year.