West Bengal's economic slide continues

At the end of March, its outstanding debt is expected to increase from about Rs 4.82 trillion in 2021 to about Rs 5.29 trillion in 2022 and further to a little more than Rs 5.86 trillion in 2023

With West Bengal Finance Minister Chandrima Bhattacharya’s presentation of the Budget for 2022-23, it is an appropriate occasion to look at the state’s economy, and the financial health and policy orientation of its government.

In terms of ranking by per capita income, West Bengal has fallen from seventh position among 25 states in 1980 to 21st among 29 states in 2018-19. In the 1950s and 1960s, West Bengal used to be compared to states such as Maharashtra and Tamil Nadu; now it has Andhra Pradesh, Chhattisgarh, Punjab, and Rajasthan as its peers. West Bengal, with a long coastline and international borders