D for development was replaced by D for dole in Bengal's budget.
The cash-strapped Mamata Banerjee government announced a slew of schemes for enlarging the pool of beneficiaries ahead of the Lok Sabha polls, which would further drain the state's meagre resources.
Among the major announcements made on Thursday was an additional four per cent of dearness allowance for state employees, separate funds for fishermen, increase in financial assistance for women under Lakshmi Bhandar, trainee apprentices, artisans and weavers as well as 50 days minimum work guarantee for job card holders.
In the next fiscal, the highest allocation has been for the Lakshmir Bhandar scheme at ₹14,400.05crore, to provide monthly support of ₹1,000 for women from SC and ST and ₹500 for the general category. ₹10,501.95 crore has been marked for different pension funds. Under the Kanyashree scheme, which provides annual scholarships for girl students, ₹1,374.50 crore has been allocated.
A special centre for minorities culture development has also been proposed at ₹20crore.
The minister of state for finance (independent), Chandrima Bhattacharya, also announced the state government was considering revising the provisions of land ceiling under the West Bengal land and land reforms act.
"This budget seems to have been prepared keeping the Assembly polls in mind, not the Lok Sabha. Whoever forms the next government in Bengal will be in deep trouble," said Ashok Lahiri, economist and BJP MLA from Balurghat.
Figures provided by the state finance department reveal nearly half of the total capital expenditure was spent on repayment of loans. Out of ₹6,2,170.89 crore (revised estimate for 2023-24), ₹30,631.42 crore was spent on repayment.
The total debt of Bengal in the current fiscal stands at ₹6,30,783.50crore. In 2011, when the Left Front government was voted out, the state's debt was above ₹One lakh crore. In the 13 years since then the financial health of the state has further weakened.
The Mamata Banerjee government's market borrowings stand at ₹73,000crore (revised from the estimated ₹78,946.49crore). The government expects to raise ₹79,727crore from the market in the next financial year.
In the next fiscal Bengal's debt burden is expected to rise to ₹6,93,231.66crore.
During her budget speech, Bhattacharya referred to the Centre's refusal to release funds for Bengal. Trinamul leaders led by Mamata Banerjee have been on a dharna at the Red Road demanding the funds be released.
Mamata even went to meet Prime Minister Narendra Modi in New Delhi last month. On Monday, leader of Opposition Suvendu Adhikari met vice president Jagdeep Dhankhar, Union home minister Amit Shah and Union finance minister Nirmala Sitharaman apprising them of the financial situation in Bengal.
The state budget figures presented in the Assembly floor reveals, the state share of union taxes and duties was pegged at ₹76,843.55crore. The actual amount received by the Bengal government is ₹83,192.87crore. For the next fiscal the stare government's projection of the share from the central pie is ₹ 92,900.29crore
Mamata Banerjee and the Trinamul ministers claim the Centre's due to be around ₹15,000crore.
For the cash-strapped Bengal government the main source of income remains the state goods and service tax (SGST), followed by Excise.
Last year, the government had fixed a target of ₹37,791.85crore from SGST. The actual earnings from SGST in the 2023-24 fiscal was ₹42,858.14crore. For the next financial year, the revenue target from SGST is ₹47,336.55crore.
From excise the government had expected ₹17,921.56crore as revenue. The revised figures from excise for the current fiscal is ₹18,851.06crore.
In stamp duty, another major source of revenue, the government's earning has dipped to ₹6,623.43 from the expected ₹7,473.79crore. In the next fiscal, the revenue projection from stamp duty is ₹7,300.45crore.
"The budget is completely directionless. Our legislator Manoj Tigga will submit cut motions. If the Speaker allows, we will participate in the voting," Adhikari said. "She keeps talking about Kurmis, Lepchas, OBCs and other communities but there is nothing for them."
