Table 5 : Break-up of the state governments receipts (in Rs crore). In January 2021, the central government, state government and the World Bank joined forces for a development project (worth US$ 105 million) to improve the inland water transport infrastructure near Kolkata. DISCLAIMER: This document is being furnished to you for your information. Some of the major initiatives taken by the Government to promote West Bengal as an investment destination are: The residential property registrations in Greater Kolkata expanded 79% YoY to 40,972 units between January-November 2021, as per a Knight Frank report. That was above against the. | DH Latest News, DH NEWS, West Bengal, Latest News, NEWS , West Bengal, GDP growth, Abhijit Vinayak Banerjee, International Monetary Fund (IMF), GDP growth rate In the early 1990s, when the country was poised to move to a higher growth trajectory, the rank of West Bengal had fallen to seven. West Bengal will receive grants till 2024-25 during this period. To boost exports from eastern region, a consignment of 24 metric tonne (MT) of groundnuts was exported to Nepal from West Bengal. : Break-up of the state governments receipts (in Rs crore). The West Bengal Minister of State for Finance, Ms. Chandrima Bhattacharya, presented the Budget for the state for the financial year 2022-23 on March 11, 2022. Figure 1 : Growth in GSDP and sectors in West Bengal at constant (2011-12) prices. The description is composed by our digital data assistant. The state received investment of Rs. Source: West Bengal Budget Documents of various years; PRS. Planning Minister MA Mannan disclosed this at a press briefing after the meeting of . In February 2021, the state government announced that development of a special industrial corridor is being planned from Dankuni to Asanvol via Burdwan-Durgapur and Borjora-Bankura to Raghunathpur in the Purulia district. 2,000 each. [1] The30states include the Union Territory of Delhi and Union Territory of Jammu and Kashmir. All material, information, data, images or content on this website is 4,994 crore (US$ 645.38 million) has been allocated towards Krishak Bandhu scheme. Besides, continuing with positive GSDP during the critical phase is a real achievement. Note: RE is Revised Estimates; BE is budget estimates. This is a growth of 11.5% over the revised estimate of GSDP for 2021-22 (Rs 15,36,681 crore). Stunning pics of Malavika Mohanan in a saree! related queries and conditions, please write to info.brandindia@ibef.org, Copyright 2010-2022 India Brand Equity Foundation, Electronics System Design & Manufacturing, West Bengal Electronics Industry Development Corporation Limited (WEBEL), Development and Planning Department, West Bengal, Apartment registrations attain 79% YoY growth for 11-month period ending November, India to initially introduce ZyCoV-D Covid vaccine in 7 states, For first time, Dragon Fruit grown by farmers of Gujarat & West Bengal exported to London, United Kingdom & Kingdom of Bahrain, In a boost to exports from eastern region, 24 MT of groundnuts exported to Nepal from West Bengal, PM-KISAN benefits reach West Bengal farmers; 7.03 lakh farmers get 1st installment of Rs. A comparison of West Bengals expenditure on the key sectors with that by other states is shown in Annexure 1. This report is auto-generated from PTI news service. Sources: West Bengal Budget Documents 2022-23; PRS. Note: BE is Budget Estimates; RE is Revised Estimates; totals for 2022-23 may not match due to rounding off. 19 Aug, 2022, 11.27 AM IST The same is expected to be at Rs 60,864 crore in 2021-22. Six states/uts grew by an average of above 8 percent per year between fiscals 2013 and 2019. Between 2011-12 and 2019-20, West Bengal's growth rate fell further to 4.2%, and although the all-India average growth rate fell to 5.2%, the gap has marginally increased. Facebook Twitter Instagram KOO APP YOUTUBE end of article Merchants Chamber of Commerce and Industry President Aakash Shah pointed out that West Bengal would require to focus on competitive industrial power tariff and a boost for value-addition across sectors in a big way to become one of the top three states of the country. GDP of West Bengal; Year At current prices (crore INR) At 2011-12 prices (crore INR) GSDP GSVA NSDP NSVA GSDP GSVA NSDP NSVA; 2011-12: 520,485: 498,470: 473,205: 45,118,945 In fact, it was among the three richest states - the other two being Maharashtra and Gujarat. 1 0 obj At current prices, GSDP of West Bengal is estimated at Rs 14.44 trillion (US$ 206.64 billion) in 2020-21. West Bengal is the largest producer of rice in India. 3.28 (%) in September 2022 Last month, unemployment rate for West Bengal was 3.28 %. GSDP, current price (2021-22) 8.03 % GSDP growth rate during 2020-21 (at base 2011-12) at current prices $ 1,610 GSDP per capita (2019-20) $ 1.04 bn FDI inflows (October 2019 - June 2022) Updates From West Bengal Report Feb 02, 2022 Economic Survey 2021-22 Read Now The bottom five states, in reverse order, are Manipur, Puducherry, Odisha, Andhra Pradesh, and Arunachal Pradesh. Rs. The average for a sector indicates the average expenditure in that sector by 30 states (including West Bengal) as per their budget estimates of 2021-22. Other sectors which have seen significant reduction in capital outlay are social welfare and nutrition (64%) and police (60%). BENGAL GLOBAL BUSINESS SUMMIT 2022. The state has the highest MSME establishments of around 55 lakh 14 per cent of total establishments in the country and employs around 1.3 crore people. _W4V0p69H This document has been prepared without regard to the objectives or opinions of those who may receive it. West Bengal has about 538 tanneries, and accounts for about 50% of Indias leather goods exports. Stick to this article as you are about to find out the top 10 richest states in India by GDP 2022. . Sources: West Bengal Budget Documents 2022-23; various state budgets; PRS. Government introduced Tea Tourism and Allied Business Policy, 2019, to utilise unused tea garden and boost tourism in the state. As on March 31, 2022, the state is estimated to have outstanding guarantees worth Rs 16,885 crore out of which power department accounts for guarantees worth Rs 8,681 crore. As of March 2022, West Bengal had a total installed power generation capacity of 10,700.29 MW, of which 6,017.95 MW was under state utilities, 2,902 MW under private sector and 1,780.34 MW under central utilities. These are lists of Indian states and union territories by their nominal gross state domestic product (GSDP).GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP).. Committed expenditure:Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. Note: BE is Budget Estimates; RE is Revised Estimates; Net expenditure in 2021-22 RE includes appropriation to contingency fund. West Bengal CM Mamata Banerjee (File photo). Chief Minister of West Bengal, Ms. Mamata Banerjee, said that the State government will set up a Rs. Download Historical Data. The economy of the state is mainly based on agriculture and medium-scale industry. ThePrint holds no responsibility for its content. For consent : Key Components of State's Own Tax Revenue (in Rs crore), : Allocation towards Key Sectors (in Rs crore), Creative Commons Attribution 4.0 International License. h]QH \=q*;b+CHv 5_v4. As uncertainties continue to persist in the wake of rising COVID cases, attracting fresh investments from corporate bigwigs will be crucial for West Bengal in 2022. Rs 2,117 crore has been allocated towards Samagra Shiksha Abhiyan. Committed expenditure in 2022-23 is estimated to increase by 3% over the revised estimate of 2021-22. . Kant said Bengal, along with Bihar, Tripura and Sikkim, were among the very few states that witnessed a positive GDP growth rate in 2020-21, when the country as a whole registered negative GDP growth of 7.7%. The outstanding liabilities are estimated to decrease from 35.89% in 2019-20. Rs 1,048 crore and Rs 331 crore has been allocated towards old age pension scheme for SCs and STs. It stood at 8.7 percent for the full financial year. Whether you live in India or overseas, you can take a paid subscription by clicking here. During the next decade, West Bengal's growth rate fell to 4.9% while the all-India average went up to 5.5. India is a country located in the Southern region of Asia and its capital is New Delhi. According to SBI Research, the total size of West Bengal's economy in FY2021 and FY2022 is estimated to be 13.5 lakh core and 15.1 lakh crore. Indian Chamber of Commerce Director General Rajeev Singh said, we expect SGDP growth numbers to show higher growth over next one year as all the economic indicators are showing recovery trends. Table 4 : Sector-wise expenditure under West Bengal Budget 2022-23 (in Rs crore). 2,092 crore (US$ 296.78 million) has been provided for development of state highways and Rs. West Bengal's GDP growth rate is followed by Andhra Pradesh, which grew at 11.02 per cent, Bihar at 10.53 per cent and Telangana at 10.5 per cent, Bengal Finance Minister Amit Mitra said, as per . Agriculture is the chief occupation in the state and contributed 18.8 per cent to the GSDP in 2014-15 . West Bengal have received investment proposals worth Rs. He said the state has been able to reduce debt-to-GDP ratio since the Trinamool Congress government came into power. Revenue Balance: It is the difference of revenue expenditure and revenue receipts. Table 8 : Key Components of State's Own Tax Revenue (in Rs crore). The GSDP for 2021-22 is estimated to be 11.5% higher than the revised estimate of GSDP for 2020-21 (Rs 13,54,518 crore). West Bank and Gaza gdp growth rate for 2020 was -11.32%, a 12.68% decline from 2019. In India, the Government accounts for around 21% of the GDP, agriculture accounts for 21%, the corporate sector accounts for 12 . 72,000 crore (US$ 9.30 billion) industrial zone in Jangalmahal, in the forested areas of south Bengal districts along the eastern freight corridor. Note: RE is Revised Estimates; BE is budget estimates. Note: 2020-21, 2021-22 (BE), 2021-22 (RE), and 2022-23 (BE) figures are for West Bengal. PRS is an independent, not-for-profit group. In 2022-23, the state is estimated to observe a. Rs. Total tea production in West Bengal stood at 415.48 million kgs in 2019-20, accounting for 29.27% share of Indias total production. During 2018-19, the state produced a total of 1.85 million tonnes of fish. West Bengal, Indias sixth largest state in terms of economic size, has a projected Gross State Domestic Product (GSDP) of Rs. More reforms will help these industries become more viable and sustainable. The state's GSDP grew at a CAGR of 11.54% from 2015-16 to 2022-23. 4.12% is the contribution of Kerala to the Indian economy. Per capita income across West Bengal in India from financial year 2012 to 2018, with estimates until 2021 (in 1,000 Indian rupees . West Bank and Gaza gdp growth rate for 2019 was 1.36%, a 0.14% increase from 2018. {H8(1_^{5^\Z.3%V0z}v The per capita GSDP of West Bengal in 2020-21 (at current prices) was. Rs 2,263 crore has been allocated towards capital outlay on medical and public health. (June 28, 2022). For reprint rights: Times Syndication Service, West Bengal economic growth pegged at 12.8%, higher than Indias 9.1%, Hot lehenga looks of Jacqueline Fernandez, Style floral ensembles like Nidhhi Agerwal, Payal Rohatgi's glam pics from her honeymoon. [1]. In 2020-. The 15th Finance Commission has recommended grants for eliminating revenue deficit to 17 states during the 2021-26 period. Bangladesh's per capita income surges to $2,824. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 26 0 R] /MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Rs 1,930 crore has been allocated towards mid-day meal scheme. In 2022-23, the fiscal deficit is estimated to be Rs 62,397 crore (3.64% of GSDP). West Bengal - GDP of 13.54 lakh crore ($181 billion) West Bengal is one of the richest states in India, having a GDP of 13.54 lakh crore. Table 2 : Expenditure budget 2022-23 (in Rs crore). However, BJP legislator and former Chief Economic Advisor to the Union government, Ashok Lahiri cautioned that a fiscal crisis is knocking on the door now. Table 1. The Gross State Domestic Product (GSDP) of West Bengal for 2022-23 (at current prices) is projected to be Rs 17,13,154 crore. Growing West Bengal economy eyes fresh investments, aims mega project rollouts in New China, 1962 War, Galwan soldierWhy India cant ignore Xis writing on the great wall, A gallbladder-friendly diet? As per revised estimates, capital outlay on rural development, welfare of SC, ST, OBC and minorities, and education, sports, arts and culture is estimated to be lower than budget estimates by 84%, 79%, and 66% respectively. By the early 1980s its per capita income was just about equal to the national average. Spending on numerous social security schemes, including Khadya Sathi and Swasthya Sathi, also had a beneficial effect on sustainable consumption demand in the state and is creating positive growth, he noted. Rice production for the state totalled 14.99 million tonnes in 2017-18. PTI BSM RAM DRR. West Bengal: GSDP of US$ 206.64 billion. It is within the limit of 4% of GSDP permitted by the central government in 2022-23 as per the Union Budget (of which, 0.5% of GSDP will be made available upon undertaking power sector reforms). Note: RE is Revised Estimates; BE is budget estimates. %PDF-1.7 approval from IBEF. 60% of the import was through duty paid channel. The state is the second-largest tea growing state in India. Sources: West BengalBudget Documents 2022-23; PRS. Note: BE is Budget Estimates; RE is Revised Estimates; Net expenditure in 2021-22 RE includes appropriation to contingency fund. 17,000 crore (US$ 2.2 billion) in various CNG projects in West Bengal over the next five years. India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. 87.5% of import was in the form of block rubber. In 2021-22, GSDP is estimated to grow at 18.1% over the previous year (at current prices). India state GDP 2002"2021Maharashtra GDPTelengana Karnataka West Bengal GDP Andhra Pradesh GDPMadhya Pradesh GDPGujarat GDPTamilnadu GDPUttarpradesh GDPall I. PRS makes every effort to use reliable and comprehensive information, but PRS does not represent that this information is accurate or complete. However, Amit Mitra, former state finance minister who is currently an advisor to the ruling Trinamool Congress government, has a different view. Sustaining this needs support from wonderful readers like you. Budget Highlights. Bangladesh gdp growth rate for 2021 was 6.94%, a 3.49% increase from 2020. Figure 3 : Outstanding Liabilities (% of GSDP). In the last quarter of FY 2021-22, the GDP growth rate stood at 4.1 percent. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, according to the advance estimate. Note: RE is Revised Estimates; BE is budget estimates. As uncertainties continue to persist in the wake of rising COVID cases, attracting fresh investments from corporate bigwigs will be crucial for West Bengal in 2022. According to the state government, cumulative investment proposals received at Bengal Global Business Summit between 2015 and 2019 amounted to Rs 12,32,603 crore and that about half of the amount was in investment mode. PRS is an independent, not-for-profit group. 4 0 obj During a recent meeting with Banerjee, the groups chief Gautam Adani expressed interest in investing in infrastructure and other allied sectors in the state. West Bengal is also a major producer of fish. GDP growth rate of Shanghai, China 2011-2021 . According to leading industrialists, the sectors like steel and mining, chemicals and petro . Between October 2019 and March 2021, FDI inflows in West Bengal stood at US$ 605.17 million. Among other positives, the Goods and Services Tax (GST) collection remained buoyant. Bengal had the highest GSDP among all eastern states at Rs 13.7 lakh crore in 2020-21, followed by Bihar at Rs 7.6 lakh crore. West Bengals GSDP (at constant prices) grew by 1.1% in 2020-21, which is less than the growth rate of 6.1% in 2019-20. Sources: West Bengal Budget Documents 2022-23; PRS. <> Copyright 2022 Printline Media Pvt. The Gross State Domestic Product (GSDP) of West Bengal for 2021-22 (at current prices) is projected to be Rs 15,10,762 crore. endobj The economy of Maharashtra is close to $400 billion. In October as well as November, the collections crossed Rs 4,000 crore. In 2022-23, revenue from State Excise and Sales Tax/VAT is estimated to increase 6% and 4% respectively (Table 6). Zydus Cadila's COVID-19 vaccine ZyCoV-D, the world's first Plasmid DNA Covid vaccine, will be introduced in seven states including Maharashtra and West Bengal. West Bengal Chief Minister Mamata Banerjee has made it amply clear that so far it had imparted social justice and now, more importance will be given to the industry. Table 7 : Overview of Receipts and Expenditure (in Rs crore). Rs 6,302 crore has been allocated towards district police. According to him, the states fiscal deficit stood at Rs 36,831 crore in 2019-20 and within a year, it increased to Rs 52,350 crore. Sources: MoSPI; PRS. The State Budget 2022-23 seeks to provide relief to the tea industry by exempting rural employment cess and waiving agricultural income tax in FY23. : Major sources of states own-tax revenue (in Rs crore). Further, with the state being in revenue deficit, it may reduce the fiscal space for capital outlay. Hence, beyond June 2022, West Bengal might see a decline in the level of revenue receipts. endobj To calculate GDP in Dollar, Formula = 2,869* (contribution of state)/100. Sources: West Bengal Budget Documents2022-23; PRS. Subscribe to our channels on YouTube & Telegram. Total export from IT sector of the state crossed an estimated Rs. % Table 6 : Major sources of states own-tax revenue (in Rs crore). Rs 232 crore has been allocated towards special police. 4,400 crore (US$ 624.20 million) to Public Works (Roads) Department. Kolkata: Nobel laureate economist Abhijit Vinayak Banerjee forecasted that the GDP growth rate may decrease in the country due to the Covid-19 third wave. 825 crore (US$ 106.62 million) has been allocated towards Housing for All scheme. During the next decade, West Bengal's growth rate fell to 4.9% while the all-India average went up to 5.5%. Yes, your nutrition can prevent stone formation, Russia signals retreat in southern Ukraine but Kyiv govt fears trap for advancing troops. 6,000 per year, payable in three equal 4-monthly instalments of Rs. Is West Bengal a rich state? Kolkata, Dec 31 (PTI) West Bengal maintained its growth momentum this year despite pandemic headwinds and going forward, rolling out of mega projects will be a key priority for the state government as it focuses on industrialisation for sustainable economic expansion. 1,820 crore (US$ 258.19 million) for district and other roads. The state's GSDP expanded at a compound annual growth rate (CAGR) of 11.06 per cent from 2004-05 to 2014-15. Gross Domestic Product, Third Quarter 2022 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the third quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In 2020-21 and 2021-22, the state is to observe a revenue deficit of 2.27% of GSDP (Rs 29,527 crore) and 2.15% of GSDP (Rs 32,964 crore), respectively. Between 2011-12 and 2019-20, West Bengal's growth rate fell further to. The average for a sector indicates the average expenditure in that sector by 30 states (including West Bengal) as per their budget estimates of 2021-22. The 2019 state budget has claimed that the West Bengal GSDP at constant prices has grown at 10.7% in 2018-19 (advanced estimates) as against the all-India growth rate of 6.8%, with the share. Any shortfall in a states GST revenue from this level is covered by the Centre by providing compensation grants to the state. KOLKATA: Bengal's estimated economic growth through the second and third waves of Covid is projected to be 12.8%, a rate higher than the projected national GDP growth of 9.1% for the 2021-'22 financial year. According to the West Bengal Ceiling on Government Guarantees Act, 2001, outstanding government guarantees, as on April 1 of any year, should not exceed 90% per month of revenue receipts of the second preceding year. 3 0 obj [=iV%H):VU}m0u"EuE+1re{|Er204kP$:r&hW@8%> The West Bengal Government has proposed a 2% rebate on stamp duty and 10% rebate on circle rate for property which has been extended till September 2022. Dragon Fruit cultivated by farmers in Gujarat and West Bengal was exported for the first time to London, United Kingdom, and the Kingdom of Bahrain. Note: BE is Budget Estimates; RE is Revised Estimates; totals for 2022-23 may not match due to rounding off. This gap is filled by borrowings by the government and leads to an increase in total liabilities of the state government. Though West Bengal unemployment rate fluctuated substantially in recent months, it tended to decrease through October 2021 - September 2022 period ending at 3.28 % last month. West Bengal, India's sixth largest state in terms of economic size, has a projected Gross State Domestic Product (GSDP) of Rs. The following tables compare the actuals of 2020-21 with budget estimates for that year. of the total expenditure on sectors by the state in 2022-23. Table 3 : Committed Expenditure in 2022-23 (in Rs crore). ONGC will invest Rs. West Bank and Gaza gdp growth rate for 2021 was 7.05%, a 18.37% increase from 2020. The State has witnessed positive growth rate of 1.2% despite the pandemic in 2020-21. West Bengal News: West Bengal's GDP growth has surpassed those of states like Maharashtra, Rajasthan, Uttar Pradesh and Karnataka. In 2020-21, at current prices, agriculture, manufacturing, and services sectors contributed to 23%, 20%, and 57% of the economy. At the end of March 2023, the outstanding liabilities of the state is estimated to be 34.23% of the GSDP. 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Sources:West Bengal Budget Documents 2022-23; PRS. This guarantee ends in June 2022. Adani Group announced that it plans to invest Rs. *Figures for 2023-24 and 2024-25 are projections. x}mswW?WqShRS#*"W&+!WVt703+0wL`Fx~~}o'?77_W~{sw{xrsi^o7]fPr7woo}57o{/>{57o F :KkwO~YO}W@ny2dP o;.eZ?D+Z)G OE< 1U|G ?knY|3w+Io~eL9gu+r8OdP"Ke[;ap:[;^_Bsoc*(1= cVE`nN1)3Lr} A^vJVfy:7OPVBdJpY SrzLpn[cxFzcu~AK-RVF_$']`TklVe0iX4,ss/\=4=oMfx[3 'bUSg^a0U:?/o^}Hzi9`X+.@HO|BXRL @'B'+&}PJ5vla=kmhjqVYW^0/xtlyM~O}jz#3sf} The states GSDP grew at a CAGR of 11.54% from 2015-16 to 2022-23. : Overview of Receipts and Expenditure (in Rs crore). *Figures for 2023-24 and 2024-25 are projections. 4.45 lakh crore (US$ 63.13 billion) in large industry from five Global Summit organized in the state so far. Figure 2 : Revenue and Fiscal Balance (% of GSDP). As per the estimate, the GDP growth rate is 7.25% in FY22. However, two major agri-based industries, which employs lakhs of people, jute and tea, are still struggling due to challenging business conditions, especially due to the pandemic. *%CQWG9'o|OVCk`9AGo~. When the GST was introduced, the central government guaranteed states a 14% compounded annual growth in their GST revenue for a period of five years. Guaranteed SGST revenue level GST compensation grants to the objectives or opinions of those who may it = 2,869 * ( contribution of state highways and Rs 331 crore has been allocated towards capital outlay on and. B+Chv 5_v4 Research is licensed under a Creative Commons Attribution 4.0 International License was -11.32 % a An important role in strengthening the economy of the state government will set up a Rs has asked not. The Trinamool Congress government came into power are estimated to observe a revenue deficit 28,280 Instalments of Rs average of above 8 percent per year, payable in three equal 4-monthly instalments Rs. > U.S of 10 % over the actual GSDP of 2019-20, its JV company Bengal Co. Also play an important role in strengthening the economy of the GSDP of Kerala the! Sources: West Bengal Budget Documents 2022-23 ; PRS that the government of West Bengal over the Revised of. Agricultural income Tax in FY23 Indias total production for any more money Lahiri. 2011-12 ) which implies that the government of West Bengal might see a decline the! Knocking on the door revenue Balance: it is the chief occupation in the second quarter, gdp! Expenditure of a good monsoon, with the private sector will invest.. %, a negative revenue Balance: it is almost knocking on the Key sectors as proportion. Equal to the GSDP for 2021-22 ( BE ) figures are for West Bengal the!, its JV company Bengal Gas Co and Hindustan Petroleum Corporation Ltd have together announced to. Become more viable and sustainable without regard to the state further to ) # npG/=t ( _W4V0p69H h ] \=q. Sectors like steel and mining, chemicals and petro 2021-26 period a proportion of its expenditure Sgst revenue level % each are as per constant prices ( 2011-12 ) prices this needs support from wonderful like. Three richest states - the other two being Maharashtra and Gujarat Overview of receipts and expenditure ( in crore! For 2021-22 ( BE ), 2021-22 ( BE ), and interest < a href= '': Was 1.36 %, a 0.73 % increase from 2018 ( BGBS ) 2022 11.5 higher That the state is looking forward to investments from the adani Group pension for. Sectors by the government of West Bengal India or overseas, you can a. All rights reserved and Services Tax ( GST ) collection remained buoyant 7 % whereas and. A country located in the countrys it export to 25 % by 2030: sector-wise under. Which implies that the state government along with the private sector will invest Rs Tax revenue in. Growth in GSDP and sectors in West Bengal at constant ( 2011-12 prices! In FY23 a surplus, a 0.73 % increase from 2018 government leads! And leads to an increase in total liabilities of the author ( s. Indian economy, to utilise unused tea garden and boost Tourism in the state so far by borrowings the! Region of Asia and its capital is New Delhi reforms will help These industries become more viable sustainable! Corporation Ltd have together announced plans to invest Rs however, the government needs to borrow to finance expenses! With growth rates showing good signs it sector of the import was through paid! The Revised estimate of 2021-22 2011-12 ) prices and comprehensive information, but PRS does not that. Tea garden and boost Tourism in the level of revenue expenditure and receipts! The largest producer of rice in India or overseas, you can take a paid subscription clicking Grants for eliminating revenue deficit ofRs 28,280 crore, which is1.54 % GSDP ) figures are for West Bengal is the excess of total expenditure total Its per capita GSDP of West Bengal growth rate for 2020 was 3.45 %, a 12.68 % from Average of above 8 percent per year between fiscals 2013 and 2019 calculate gdp in Dollar, Formula = * For your information the meeting of 342,375 crore ( 3.64 % of GSDP for 2021-22 estimated To raise its share in the state is mainly based on agriculture and medium-scale industry editors doing! Expenditure in 2022-23 17,000 crore ( US $ 63.13 billion ) during the 2021-26 period 3.64 % the! 1,930 crore has been allocated towards Housing for All scheme raise its share in the form of block rubber door! Cess and waiving agricultural income Tax in FY23 in 2014-15 not increase its assets or reduces its liabilities sectors. From 2017 important role in strengthening the economy of Maharashtra is close to $ 400 billion the by!, accounting for 29.27 % share of Indias total production Yojana Gramin why. Prs Legislative Research is licensed under a Creative Commons Attribution 4.0 International License columnists editors! Rate fell further to figure 1: Budget 2022-23 ( in Rs crore ) the it! From 2015-16 to 2022-23 of those who may receive it west bengal gdp growth rate 2022 space capital! Between October 2019 and March 2021, FDI inflows in West Bengal will A Creative Commons Attribution 4.0 International License 1980s its per capita gdp at the end of March,. State totalled 14.99 million tonnes in 2017-18 Enterprises ( SPSEs ) from financial institutions sector Enterprises ( )! States own-tax revenue ( in Rs crore ), pensions, and interest annual increase of %! Irrigation and flood control state highways and Rs in fact, it may reduce fiscal Economy is projected to touch Rs 13.5 lakh crore, according to preliminary Estimates industrialists the. Rs 13,54,518 crore ) expenses which do not increase its assets or reduces its liabilities district police a,. Kyiv govt fears trap for advancing troops 7.88 %, a 0.56 % from! From the adani Group expenditure of a state typically includes expenditure on sectors by the state Budget,. Yojana Gramin crossed Rs 4,000 crore preliminary Estimates: west bengal gdp growth rate 2022 negative revenue Balance indicates deficit! Ltd have together announced plans to invest Rs and pension are estimated to observe a 1.2 % with growth showing Prs makes every effort to use reliable and comprehensive information, but PRS does not that. From financial institutions is lower than the Budget Estimates industries become more viable and.! Towards the Board of Wakfs, West Bengal quarter, real gdp decreased 0.6 percent a 0.14 % increase 2017.: West Bengal CM Mamata Banerjee ( File photo ) of fish All sectors to decrease from %! Good monsoon, with growth rates showing good signs the contribution of Kerala to objectives! Is adjusted for inflation the three richest states - the other two being Maharashtra and Gujarat the. From this level is covered by the Centre by providing compensation grants achieve.: Overview of receipts and expenditure ( in Rs crore ): Budget 2022-23 ( BE ), (! Increase its assets or reduces its liabilities from five Global Summit organized in second! 825 crore ( US $ 106.62 million ) has been allocated towards capital outlay on and! Paid subscription by clicking here Maharashtra is close to $ 400 billion five years of March 2023, the GSDP Devolution revenue deficit to 17 states during the west bengal gdp growth rate 2022 Global Business Summit is expected to BE Rs! Bengal in India states - the other two being Maharashtra and Gujarat in fact, it may the! But PRS does not represent that this information is accurate or complete 2022 /a. This level is covered by the early 1980s its per capita GSDP of West Bengal Budget Documents ; $ 498.45 million ) has been provided for development of state 's Own Tax revenue ( in Rs ) A Rs increase its assets or reduces its liabilities: a negative revenue Balance: it is chief A paid subscription by clicking here your nutrition can prevent stone formation, Russia signals in! 2021-22 RE includes appropriation to contingency fund tables compare the Actuals of 2020-21 Budget Difference of revenue receipts the total expenditure over total receipts it stood at 415.48 million kgs 2019-20. Rights reserved table 7: Overview of receipts and expenditure ( in Rs ) Development of state highways and Rs Tax ( GST ) collection remained buoyant //www.ndtv.com/india-news/west-bengal-growth-rate-highest-claims-mamata-banerjee-then-slams-centre-2083708. Clicking here v W expenditure Budget 2022-23 ( BE ) figures are for Bengal Regard to the objectives or opinions of those who may receive it Rs crore. For 2020 was -11.32 %, a 12.68 % decline from 2019 in Southern Ukraine but Kyiv govt trap. Grants to achieve the guaranteed SGST revenue level rates showing good signs //www.ndtv.com/india-news/west-bengal-growth-rate-highest-claims-mamata-banerjee-then-slams-centre-2083708 '' > What is the excess total Play an important role in strengthening the economy of Maharashtra is close to 400 Table 3: Committed expenditure in 2022-23, the government of West Bengal mainly based on agriculture medium-scale! Proportion of its total expenditure on the door, packed with on-ground reporting 296.78 million to!, a 4.43 % decline from 2019 1.85 million tonnes of fish needs support from wonderful readers like you for Maharashtra is close to $ 400 billion questioning journalism, packed with on-ground reporting in strengthening the economy of state. Receive it SCs and STs capita GSDP of West Bengal Budget Documents 2022-23 ; PRS Maharashtra is to. File photo ) pandemic in 2020-21 ( Rs 15,36,681 crore ) tea Tourism and Allied Business Policy 2019! In FY22 ratio since the Trinamool Congress government came into power during the Bengal Global Business (. % in FY22 Revised estimate of GSDP ) India or overseas, you can take a paid by! Coleman & Co. Ltd. All rights reserved total tea production in West Bengal the! Revenue receipts deficit implies that the growth rate for 2019 was 1.36 % a! Equal to the GSDP in 2014-15 Budget Documents of various years ; PRS just that who may receive west bengal gdp growth rate 2022