West Bengal Budget 2020-21 Pdf | Highlights | Speech

West Bengal Budget 2020-21 Pdf | Highlights | Analysis | Speech – The Finance Minister, Dr. Amit Mitra, presented the Budget for West Bengal for the financial year 2020-21 on February 10, 2020.  Read This Budget In Full Details And prepare Notes For West Bengal Competitive Exams . Every Year Many Questions Are Asked From Budget in Government Jobs Exams . Full Details Of The Budget And Highlights are provided .

West Bengal Budget 2020-21 Pdf | Highlights | Analysis | Speech

West Bengal Budget 2020-21 Pdf | Highlights | Analysis | Speech

State  West Bengal
Document  Budget
Year  2020-21
Chief Minister  Mamata Banerjee
Format  Pdf
Medium  English And Bengali
Download link  Click Here 

 

Budget Highlights

  • The Gross State Domestic Product (GSDP) of West Bengal for 2020-21 (at current prices) is estimated to be Rs 14,44,174 crore. This is based on a GSDP growth rate of 11.3% expected over the previous year (2019-20).  In 2019-20, GSDP is estimated to grow at a rate of 15% over the previous year.
  • Expenditure for 2020-21 is estimated to be Rs 2,55,677 crore, a 3.1% increase over the revised estimate of 2019-20.   The revised expenditure for 2019-20 is Rs 10,137 crore (4.3%) higher than the budgeted estimate.
  • Total receipts (excluding borrowings) for 2020-21 are estimated to be Rs 1,79,905 crore, an increase of 9.9% as compared to the revised estimate of 2019-20.  In 2019-20, total receipts (excluding borrowings) are estimated to fall short of the budgeted estimate by Rs 929 crore (0.6%).
  • Fiscal deficit for the year 2020-21 is targeted at Rs 31,483 crore (2.18% of GSDP).  In 2019-20, as per the revised figures, fiscal deficit is estimated to increase by Rs 6,862 crore to 2.63% of GSDP, as compared to the budgeted estimate of 2.1% of GSDP.  The budget estimates a zero revenue deficit in 2020-21.
  • Sectors such as Agriculture (66%), Irrigation and Flood Control (39%), and Welfare of SC, ST, OBC, and Minorities (38%) saw the highest increase in allocations.  On the other hand, allocations to sectors such as Transport (21%), Social Welfare and Nutrition (19%), and Police (6%) saw the highest decrease.

Policy Highlights

  • Pension scheme for SCs and STs:  Persons belonging to the Scheduled Castes (SCs) and Scheduled Tribes (STs), who are more than 60 years of age and not covered under any pension scheme, will be provided a monthly pension of one thousand rupees.   The new pension scheme is expected to benefit 25 lakh persons.  An amount of Rs 3,000 crore has been allocated for the proposed scheme for 2020-21.
  • Karma Sathi Prakalpa:  A new scheme, Karma Sathi Prakalpa, has been proposed to provide assistance to unemployed youth to help them become self-reliant.  Under the scheme, one lakh unemployed youth, for the next three years, will be provided soft loan and subsidy of up to two lakh rupees for taking up any new income generating project.  Rs 500 crore has been allocated for the scheme for 2020-21.
  • Free electricity to poor:  A new scheme has been proposed to provide free electricity to poor domestic consumers.  Under the scheme, no electricity charge will be levied on those poor domestic consumers whose quarterly consumption of electricity is up to 75 units (lifeline consumers).  The scheme is expected to benefit 35 lakh poor families.  Rs 200 crore has been allocated for the proposed scheme for 2020-21.
West Bengal’s Economy

  • GSDP:  West Bengal’s GSDP (at current prices) is estimated to grow at a 14.6% rate in 2019-20, as compared to the 7.5% growth rate estimated for India’s GDP.  While the country’s GDP growth declined from 11.2% in 2018-19 to 7.5% in 2019-20, GSDP growth of West Bengal is estimated to increase marginally to 14.6% in 2019-20.
  • Sectors:  In 2019-20, Agriculture, Manufacturing, and Services are estimated to contribute 21%, 20%, and 59%, respectively to the state’s economy.
  • Unemployment:  According to the Periodic Labour Force Survey (2017-18), the unemployment rate in West Bengal is 4.6%, which is lower than the all-India unemployment rate of 6.1%.

 

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