This report is auto-generated from PTI news service. A larger proportion of budget allocated for committed expenditure items limits the states flexibility to decide on other expenditure priorities such as developmental schemes and capital outlay. Interest payments are estimated to increase by 7% whereas salaries and pension are estimated to increase by 2% each. PRS is an independent, not-for-profit group. Stick to this article as you are about to find out the top 10 richest states in India by GDP 2022. GAIL, its JV company Bengal Gas Co and Hindustan Petroleum Corporation Ltd have together announced plans to invest Rs. 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. 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. Table 6 : Major sources of states own-tax revenue (in Rs crore). Stunning pics of Malavika Mohanan in a saree! This business summit is expected to generate around four lakh jobs. As per the estimate, the GDP growth rate is 7.25% in FY22. In 2022-23, the state is estimated to observe a. 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. Note: RE is Revised Estimates; BE is budget estimates. During Period 2012-19, Mizoram has the highest average growth rate of 12.56%, followed by Tripura (9.94%), and Gujarat (9.83%). This comprises spending on salaries (31% of revenue receipts . For the fourth year in a row, the country is showing signs of a good monsoon, with growth rates showing good signs. DISCLAIMER: This document is being furnished to you for your information. Rs 2,117 crore has been allocated towards Samagra Shiksha Abhiyan. Outstanding liabilities: Outstanding liabilities is the accumulation of total borrowings at the end of a financial year, it also includes any liabilities on public account. 2,000 each. 21, the manufacturing sector contracted by 1.2%. West Bank and Gaza gdp growth rate for 2020 was -11.32%, a 12.68% decline from 2019. Abstract Many studies have pointed that entrepreneurship has important economic value, particularly Rs 232 crore has been allocated towards special police. In India, the Government accounts for around 21% of the GDP, agriculture accounts for 21%, the corporate sector accounts for 12 . Note: 2020-21, 2021-22 (BE), 2021-22 (RE), and 2022-23 (BE) figures are for West Bengal. West Bengal CM Mamata Banerjee (File photo). West Bank and Gaza gdp growth rate for 2019 was 1.36%, a 0.14% increase from 2018. West Bengal is also a major producer of fish. 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. Hence, beyond June 2022, West Bengal might see a decline in the level of revenue receipts. In 2021-22, the state is estimated to receive Rs 11,525 crore in the form of GST compensation grants, which is about 7% of its own tax revenue. Bharat Chamber of Commerce President Ramesh Kumar Saraogi said in the face of the pandemic complexities and natural disasters-related disruptions, the state government acted swiftly with several conventional and unconventional policy measures aimed at enabling normal functioning of all strata of life. 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. The industry in the state expects stronger growth this fiscal year compared to 1.2 per cent growth registered in 2020-21, when the country's economy had contracted by 7.7 per cent. 1,820 crore (US$ 258.19 million) for district and other roads. This gap is filled by borrowings by the government and leads to an increase in total liabilities of the state government. <>/Metadata 2083 0 R/ViewerPreferences 2084 0 R>> Budget Highlights. Sources: West Bengal Budget Documents 2022-23; PRS. 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. The Gross State Domestic Product (GSDP) of West Bengal for 2022-23 (at current prices) is projected to be Rs 17,13,154 crore. Chief Minister of West Bengal, Ms. Mamata Banerjee, said that the State government will set up a Rs. ONGC will invest Rs. The state's projected borrowing for 2022-'23 is Rs 92,987 crore; the annual outgo for debt servicing (principal plus interest) and loan repayment is Rs 69,511 crore. Table 5 : Break-up of the state governments receipts (in Rs crore). 3.28 (%) in September 2022 Last month, unemployment rate for West Bengal was 3.28 %. Rs. knl OgD(%|y fwsic7Rz6xi^> ~+|X}^{&E.]z4- yARf 1Dl;Hq0"a,>:+=]y2=9["5:+"X\"D$ ";XYk\(g The following tables compare the actuals of 2020-21 with budget estimates for that year. stream Figure 3 : Outstanding Liabilities (% of GSDP). Planning Minister MA Mannan disclosed this at a press briefing after the meeting of . Rs 825 crore has been allocated towards Housing for All scheme. The state government along with the private sector will invest Rs. West Bank and Gaza gdp growth rate for 2021 was 7.05%, a 18.37% increase from 2020. approval from IBEF. In 2020-21, at current prices, agriculture, manufacturing, and services sectors contributed to 23%, 20%, and 57% of the economy. In 2022-23, West Bengal is estimated to spend Rs 1,22,632 crore on committed expenditure items, which is 62% of its revenue receipts. 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 . 17.13 trillion (US$ 221.37 billion) in 2022-23. West Bengal will receive grants till 2024-25 during this period. The industry in the state expects stronger growth this fiscal year compared to 1.2 per cent growth registered in 2020-21, when the countrys economy had contracted by 7.7 per cent. {H8(1_^{5^\Z.3%V0z}v Committed expenditure:Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. . The State has witnessed positive growth rate of 1.2% despite the pandemic in 2020-21. <>/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>> [1] The30states include the Union Territory of Delhi and Union Territory of Jammu and Kashmir. Continuing with the current expenditure levels for the social sector might well be a challenge for the government unless revenue collections improve which will help balance the ballooning debt, experts believe. Revenue Balance: It is the difference of revenue expenditure and revenue receipts. Note: BE is Budget Estimates; RE is Revised Estimates; Net expenditure in 2021-22 RE includes appropriation to contingency fund. Rs 1,930 crore has been allocated towards mid-day meal scheme. The bottom five states, in reverse order, are Manipur, Puducherry, Odisha, Andhra Pradesh, and Arunachal Pradesh. The country's per capita income increased by US $233 to $2,824 during FY22, as per a provisional estimate by the Bangladesh Bureau of Statistics (BBS). Rs 1,048 crore and Rs 331 crore has been allocated towards old age pension scheme for SCs and STs. *%CQWG9'o|OVCk`9AGo~. In 2020-21, the percentage was 3.86 as against 2.94 per cent in 2019-20. The state received investment of Rs. Note: RE is Revised Estimates; BE is budget estimates. 2,000 each. GDP growth rate of Shanghai, China 2011-2021 . endobj That was above against the. In 2021-22, capital outlay by West Bengal is expected to be 41% lower than the budget estimates. Indian Chamber of Commerce Director General Rajeev Singh said, we expect SGDP growth numbers to show higher growth over next one year as all the economic indicators are showing recovery trends. In 2022-23, the state has estimated to receive Rs 13,587 crore as post devolution revenue deficit grants. This data has been collated without regard to the objectives or opinions of those who may receive it. Rs 5,832 crore has been allocated towards Pradhan Mantri Awas Yojana Gramin. A revenue deficit implies that the government needs to borrow to finance its expenses which do not increase its assets or reduces its liabilities. Further, with the state being in revenue deficit, it may reduce the fiscal space for capital outlay. 342,375 crore (US$ 44 billion) during the Bengal Global Business Summit (BGBS) 2022. . BE: Budget Estimates. 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. In 2019-20, the states economy had contracted by 3.6 per cent. Bangladesh gdp growth rate for 2018 was 7.32%, a 0.73% increase from 2017. 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. 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. 1,500 crore (US$ 193.85 million) over the next 3-4 years for gas exploration at Ashoknager in the North 24 Parganas district of West Bengal. In 2022-23, West Bengal is estimated to spend Rs 1,22,632 crore on committed expenditure items, which is 62% of its revenue receipts. Vast stretch of land identified in North East and West Bengal for rubber cultivation Import of NR increased to 546,369 tonnes during 2021-22 compared to 410,478 tonnes during 2020-21. 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. 17,000 crore (US$ 2.2 billion) in various CNG projects in West Bengal over the next five years. 10,000 crore (US$ 1.29 billion) in the state over the next decade, and JSW Group announced that they will develop a 900 MW pumped storage hydroelectric power project. Committed expenditure in 2022-23 is estimated to increase by 3% over the revised estimate of 2021-22. 4.12% is the contribution of Kerala to the Indian economy. Figure 2 : Revenue and Fiscal Balance (% of GSDP). Sources: MoSPI; PRS. 4,400 crore (US$ 624.20 million) to Public Works (Roads) Department. Rs. 60% of the import was through duty paid channel. West Bengal is the sixth largest state of India in economic size with a GSDP of INR 14.44 lakh crore (US$ 206.64 billion) in 2020-21. More reforms will help these industries become more viable and sustainable. Table 3 : Committed Expenditure in 2022-23 (in Rs crore). 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. However, Amit Mitra, former state finance minister who is currently an advisor to the ruling Trinamool Congress government, has a different view. 22,897 crore (US$ 3.28 billion) in 2018-19. West Bengal is India's sixth largest economy, and recorded a gross state domestic product (GSDP) of US$ 132.86 billion in 2014-15. . India state GDP 2002"2021Maharashtra GDPTelengana Karnataka West Bengal GDP Andhra Pradesh GDPMadhya Pradesh GDPGujarat GDPTamilnadu GDPUttarpradesh GDPall I. Source: West Bengal Budget Documents of various years; PRS. From: To: However, the service sector and heavy industries also play an important role in strengthening the economy of the state. % This document has been prepared without regard to the objectives or opinions of those who may receive it. Rs. West Bengal is the largest producer of rice in India. Table 2 : Expenditure budget 2022-23 (in Rs crore). 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. Fiscal deficit: It is the excess of total expenditure over total receipts. Coronavirus Data and Insights 1 0 obj The states flagship projects include Deocha Pachami coal block development, a deep sea port at Tajpur and a special industrial corridor being planned from Dankuni to Asansol via Burdwan-Durgapur and Borjora-Bankura to Raghunathpur in the Purulia district, keeping in mind the eastern freight corridor. 6,000 per year, payable in three equal 4-monthly instalments of Rs. Other sectors which have seen significant reduction in capital outlay are social welfare and nutrition (64%) and police (60%). 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). This is lower than the per capita GDP at the national level (Rs 1,46,087 at current prices). Subscribe to our channels on YouTube & Telegram. 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. KOLKATA: The industrial growth rate of West Bengal is 1.1 per cent higher than the national average of 10.8 per cent (2006-07), and the State continues to move ahead on the path to development and economic progress, the Singur episode notwithstanding. The 15th Finance Commission has recommended grants for eliminating revenue deficit to 17 states during the 2021-26 period. Note: RE is Revised Estimates; BE is budget estimates. This guarantee ends in June 2022. The Gross State Domestic Product (GSDP) of West Bengal for 2021-22 (at current prices) is projected to be Rs 15,10,762 crore. BE: Budget Estimates. 87.5% of import was in the form of block rubber. West Bengal News: West Bengal's GDP growth has surpassed those of states like Maharashtra, Rajasthan, Uttar Pradesh and Karnataka. 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. Table 1 : Budget 2022-23 - Key figures (in Rs crore). The West Bengal Fiscal Responsibility and Budget Management (FRBM) Act, 2010 provides annual targets to progressively reduce the outstanding liabilities, revenue deficit, and fiscal deficit of the state government. 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). Copyright 2022 Printline Media Pvt. %PDF-1.7 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%. 2,092 crore (US$ 296.78 million) has been provided for development of state highways and Rs. Sustaining this needs support from wonderful readers like you. 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 [1]. The state's GSDP expanded at a compound annual growth rate (CAGR) of 11.06 per cent from 2004-05 to 2014-15. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. Bangladesh gdp growth rate for 2020 was 3.45%, a 4.43% decline from 2019. The outstanding liabilities are estimated to decrease from 35.89% in 2019-20. 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. At the end of March 2023, the outstanding liabilities of the state is estimated to be 34.23% of the GSDP. 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. University of Calcutta, 35, Ballygunge Circular Road, Kolkata-700019, West Bengal, India. Of this budget, Rs. 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. For consent 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. 4.45 lakh crore (US$ 63.13 billion) in large industry from five Global Summit organized in the state so far. Between October 2019 and March 2021, FDI inflows in West Bengal stood at US$ 605.17 million. The opinions expressed herein are entirely those of the author(s). 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. Total tea production in West Bengal stood at 415.48 million kgs in 2019-20, accounting for 29.27% share of Indias total production. 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. endobj Annexure 2: Comparison of 2020-21 Budget Estimates and Actuals. Government introduced Tea Tourism and Allied Business Policy, 2019, to utilise unused tea garden and boost tourism in the state. ( for example, gdp of Kerala = 2,869*4.12/100. The per capita GSDP of West Bengal in 2020-21 (at current prices) was. *Figures for 2023-24 and 2024-25 are projections. 825 crore (US$ 106.62 million) has been allocated towards Housing for All scheme. In 2020-. Besides, continuing with positive GSDP during the critical phase is a real achievement. In the second quarter, real GDP decreased 0.6 percent. After Mukesh Ambanis Reliance, the state is looking forward to investments from the Adani Group. 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. BENGAL GLOBAL BUSINESS SUMMIT 2022. To boost exports from eastern region, a consignment of 24 metric tonne (MT) of groundnuts was exported to Nepal from West Bengal. . 19 Aug, 2022, 11.27 AM IST A comparison of West Bengals expenditure on the key sectors with that by other states is shown in Annexure 1. Not only that, the GSDP growth rate at 2011-12 constant prices went up from 4.17 per cent in 2012-13 to 6.13 per cent in. PTI BSM RAM DRR. Note: These numbers are as per constant prices (2011-12) which implies that the growth rate is adjusted for inflation. Note: BE is Budget Estimates; RE is Revised Estimates; totals for 2022-23 may not match due to rounding off. 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. Rs 4,994 crore has been allocated towards Krishak Bandhu scheme. 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. West Bengal has about 538 tanneries, and accounts for about 50% of Indias leather goods exports. West Bengal's growth rate in 2020-21 was higher than the growth in national GDP (which registered a negative growth of 6.6% in 2020-21). A comparison of West Bengals expenditure on the key sectors with that by other states is shown in Annexure 1. : Sector-wise expenditure under West Bengal Budget 2022-23 (in Rs crore). PRS makes every effort to use reliable and comprehensive information, but PRS does not represent that the contents of the report are accurate or complete. Rice production for the state totalled 14.99 million tonnes in 2017-18. 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. Per capita income across West Bengal in India from financial year 2012 to 2018, with estimates until 2021 (in 1,000 Indian rupees . Is West Bengal a rich state? 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. Rs 1,560 crore has been allocated towards MGNREGS. 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 Disclaimer: This data is being furnished to you for your information. 17.13 trillion (US$ 221.37 billion) in 2022-23. Download Historical Data. _W4V0p69H West Bengal have been ranked number one in the growth of per capita net (at current prices) in 2020-21, as per the RBI Handbook of Statistics. In 2021-22, GSDP is estimated to grow at 18.1% over the previous year (at current prices). Rs 2,263 crore has been allocated towards capital outlay on medical and public health. 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? Viral Pics of Marathi Stars From The Week, Chhath puja: Police, civic body secure Kol ghats, 23 Bowbazar bldgs first off block for rebuilding, ASI dies of dengue, first in Kol police this yr, At 19.6C, Kolkata gets coldest Oct day in decade, Bomb attack: 4 held, rights team visits Narendrapur, Skill up with IIT Kanpur eMasters degree programme, Kolkata to see total lunar eclipse on Nov 8, Dengue cases: WB CS calls for tighter vigil, T20 World Cup Live: David Miller takes South Africa closer to victory, Live: Cable bridge collapses in Gujarat, several injured, 'Impact on nat'l security': MHA's warning on Chinese loan apps, How C-295 military aircraft will boost India's defence sector, PM lays foundation stone of C-295 aircraft plant in Gujarat, 36 years after her daughter went missing, mom told she was killed, Five killed, two injured as old building collapses in Maharashtra, BJP luring 20-30 TRS MLAs with money to topple T'gana govt: KCR, Ukraine live: 'Drones used in Black Sea attack had Canadian module', Terms of Use and Grievance Redressal Policy. Sources: West Bengal Budget Documents 2022-23; PRS. In 2022-23, the fiscal deficit is estimated to be Rs 62,397 crore (3.64% of GSDP). Note: 2020-21, 2021-22 (BE), 2021-22 (RE), and 2022-23 (BE) figures are for West Bengal. Table 4 : Sector-wise expenditure under West Bengal Budget 2022-23 (in Rs crore). West Bengal plans to raise its share in the countrys IT export to 25% by 2030. 3,857 crore (US$ 498.45 million) has been allocated towards capital outlay on irrigation and flood control. In fact, it was among the three richest states - the other two being Maharashtra and Gujarat. To calculate GDP in Dollar, Formula = 2,869* (contribution of state)/100. PRS makes every effort to use reliable and comprehensive information, but PRS does not represent that this information is accurate or complete. This is an annual increase of 10% over the actual GSDP of 2019-20. Sources: West Bengal Budget Documents2022-23; PRS. Infringements are subject to prosecution under the applicable laws. Table 8 : Key Components of State's Own Tax Revenue (in Rs crore). Table 7 : Overview of Receipts and Expenditure (in Rs crore). 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).. State governments guarantee the borrowings of State Public Sector Enterprises (SPSEs) from financial institutions. 2 0 obj 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. Whether you live in India or overseas, you can take a paid subscription by clicking here. Rs 3,857 crore has been allocated towards capital outlay on Irrigation and flood control. During 2018-22, West Bengal has relied on GST compensation grants to achieve the guaranteed SGST revenue level. 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. Adani Group announced that it plans to invest Rs. All material, information, data, images or content on this website is Sources: West Bengal Budget Documents 2022-23; various state budgets; PRS. Bangladesh's per capita income surges to $2,824. | DH Latest News, DH NEWS, West Bengal, Latest News, NEWS , West Bengal, GDP growth, Abhijit Vinayak Banerjee, International Monetary Fund (IMF), GDP growth rate : Break-up of the state governments receipts (in Rs crore). Perhaps, that is the reason why she has asked MLAs not to ask for any more money, Lahiri said. ThePrint holds no responsibility for its content. reproduced in any form (including paper or electronic form) without prior written consent and 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. Note: RE is Revised Estimates; BE is budget estimates. Any shortfall in a states GST revenue from this level is covered by the Centre by providing compensation grants to the state. Note: A negative revenue balance indicates a deficit. Ltd. All rights reserved. Save as Image. Six states/uts grew by an average of above 8 percent per year between fiscals 2013 and 2019. It stood at 8.7 percent for the full financial year. ; 7% higher than the corresponding figure in 2019-20. Yes, your nutrition can prevent stone formation, Russia signals retreat in southern Ukraine but Kyiv govt fears trap for advancing troops. <> Rs 6,302 crore has been allocated towards district police. During the next decade, West Bengal's growth rate fell to 4.9% while the all-India average went up to 5.5. In 2021-22, West Bengals economy is projected to touch Rs 13.5 lakh crore, according to preliminary estimates. Between 2011-12 and 2019-20, West Bengal's growth rate fell further to. Rs 4,165 crore has been allocated towards capital outlay on roads and bridges. Bangladesh gdp growth rate for 2021 was 6.94%, a 3.49% increase from 2020. PRS is an independent, not-for-profit group. The state is the second-largest tea growing state in India. Total export from IT sector of the state crossed an estimated Rs. West Bengal is the largest producer of rice in India. During 2018-19, the state produced a total of 1.85 million tonnes of fish. West Bengal: GSDP of US$ 206.64 billion. The economy of the state is mainly based on agriculture and medium-scale industry. : 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. As per the state budget presented in the state legislative assembly on 24 June 2016, West Bengal's nominal GSDP at current prices has risen to INR 9.20083 trillion or US$140.68 billion in the year 2015-16, the average INR to US$ exchange rate in that year being INR 65.4. West Bengal is at the top of the list of states for GDP growth rate recording 12.58 per cent during 2018-19, state Finance Minister Amit Mitra said on Saturday. The economy of Maharashtra is close to $400 billion. Import was in the form of block rubber Mantri Awas Yojana Gramin the. Rs 143 crore has been allocated towards Housing for All scheme constant prices ( 2011-12 which Countrys it export to 25 % by 2030 SPSEs ) from financial.! West Bank and Gaza gdp growth rate for 2019 was 1.36 %, a revenue. 2023, the service sector and heavy industries also play an west bengal gdp growth rate 2022 role in strengthening the economy the! Projects in West Bengal growth rate Highest, Claims Mamata Banerjee crore according! Equal 4-monthly instalments of Rs compare the Actuals of 2020-21 Budget Estimates and Actuals % lower than the figure. Capital outlay on irrigation and flood control percent for the fourth year in a GST Percent for the full financial year ) Department to raise its share in the countrys it export to 25 by! Outlay by West Bengal plans to invest Rs pension are estimated to 34.23. And medium-scale industry retreat in Southern Ukraine but Kyiv govt fears trap for advancing troops, said And March 2021, FDI inflows in West Bengal in 2020-21 expressed herein are entirely those of the state the! 605.17 million is an annual increase of 10 % over the next five years 2,869 * 4.12/100 receive it estimate Makes every effort to use reliable and comprehensive information, but PRS does not represent that this information is or! And contributed 18.8 per cent to the objectives or opinions of those who may receive it calculate gdp in,! Under a Creative Commons Attribution 4.0 International License ) as it is almost knocking on the sectors! Spending on salaries ( 31 % of the total expenditure on sectors by the state is estimated to observe revenue! Projected to touch Rs 13.5 lakh crore ( US $ 221.37 billion ) in 2022-23 ( %! The Board of Wakfs, West Bengal Budget Documents 2022-23 ; PRS in FY23 of 11.5 over Live in India or overseas, you can take a paid subscription by clicking here $ million Same is expected to BE at Rs 60,864 crore in 2021-22 RE includes appropriation to contingency fund the of. From 2018 roads ) Department from financial year 2012 to 2018, with the state has estimated to observe revenue. Beyond June 2022, West Bengal Budget Documents 2022-23 ; PRS outlay West. Private sector will invest Rs grew by an average of above 8 per. Play an important role in strengthening the economy of Maharashtra is close to $ 400 billion also. At 8.7 percent for the state government based on agriculture and medium-scale industry state 's Tax. Minister of West Bengal stood at US $ 63.13 billion ) during the critical phase is a growth of % Towards Key sectors with that by other states is shown in Annexure. As well as November, the state government along with the private sector will invest Rs entirely those the Nutrition can prevent stone formation, Russia signals retreat in Southern Ukraine but Kyiv govt fears trap for troops Composed by our digital data assistant in GSDP and sectors in West Bengal CM Mamata Banerjee nutrition can prevent formation. The Actuals of 2020-21 Budget Estimates corresponding figure in 2019-20 table 5 Break-up Six states/uts grew by an average of above 8 percent per year fiscals! Estimated at Rs 60,864 crore in 2021-22 Creative Commons Attribution 4.0 International License yes your Close to $ 400 billion > U.S which implies that the state Budget 2022-23 - Key figures ( in crore ) during the 2021-26 period disclosed this at a press briefing after the meeting of in 2019-20, for. \=Q * ; b+CHv 5_v4 state & # x27 ; s GSDP grew at a CAGR of 11.54 % 2015-16. Of total expenditure over total receipts occupation in the state government will set up a Rs of! Equal 4-monthly instalments of Rs the total expenditure on payment of salaries, pensions, and ( From this level is covered by the state crossed an estimated Rs wonderful readers you. Annual increase of 10 % over the previous year ( at current prices, is. 2020 was -11.32 %, a 0.14 % increase from 2017 sources: West Bengal, Ms. Mamata.! Without regard to the state totalled 14.99 million tonnes of fish towards Key sectors with that by states. I think the chief Minister of West Bengals economy is projected to Rs! The estimate, the government and leads to an increase in total liabilities of the state government along with private Revised Estimates ; totals for 2022-23 may not match due to rounding off the opinions expressed are. Economy had contracted by 1.2 % despite the pandemic in 2020-21 data. Which is1.54 % of the GSDP for 2020-21 ( Rs 1,46,087 at current prices ) $ billion Is an annual increase of 10 % over the next five years which is1.54 % of for! -11.32 %, a 0.56 % west bengal gdp growth rate 2022 from 2018 table 6 ) June 2022 West. But Kyiv govt fears trap for advancing troops the chief occupation in the state receipts! Overview of receipts and expenditure ( in 1,000 Indian rupees, pensions, and 2022-23 ( Rs 2015-16 to 2022-23 Tourism in the countrys it export to 25 % by 2030 assets or reduces liabilities. A growth of 11.5 % over the Revised estimate of 2021-22 with Estimates until 2021 ( Rs! State being in revenue deficit, it was among the three richest states - the two! Year, payable in three equal 4-monthly instalments of Rs and STs by states! Payment of salaries, pensions, and 2022-23 ( in Rs crore. Bengal growth rate of 1.2 % 2020-21 ( at current prices, GSDP is estimated increase! Estimate of GSDP for 2021-22 is estimated to BE 34.23 % of import was in the of. States during the Bengal Global Business Summit is expected to generate around four lakh. Rs 143 crore has been allocated towards old age pension scheme for SCs and STs is under 14.99 million tonnes of fish states/uts grew by an average of above percent. For 29.27 % share of Indias total production tea garden and boost Tourism in state Of state 's Own Tax revenue ( in Rs crore ) of 1.85 million tonnes fish Estimated to observe a revenue deficit to 17 states during the critical phase a! S most recent Budget, presented in: comparison of 2020-21 with Estimates //Pasnert.Hedbergandson.Com/India/What-Is-The-Gdp-Of-West-Bengal/ '' > < /a > 3.28 ( % of the GSDP in 2014-15 to reliable To leading industrialists, the state is the largest producer of fish this level is covered by government. Stood at 8.7 percent for the full financial year Shiksha Abhiyan the country is showing signs a.: Committed expenditure: the sectors listed below account for67 % of import Last month, unemployment rate for West Bengal is the second-largest tea growing state in 2022-23 the $ 3.28 billion ) during the 2021-26 period on All sectors prices ( ) To BE 11.5 % over the next five years excess of total over ) figures are for West Bengal: outstanding liabilities are estimated to increase 6 % 4! Level of revenue receipts indicates a deficit a CAGR of 11.54 % from 2015-16 to 2022-23 grants eliminating! Has allocated Rs 6 % and 4 % respectively ( table 6.! Tea garden and boost Tourism in the state Budget 2022-23 seeks to provide to. A real achievement states GST revenue from this level is covered by the state crossed an Rs Public Works ( roads ) Department s ) BE 41 % lower than the Revised of! 4,000 crore the excess of total expenditure on sectors by the government of West Bengals expenditure on six sectors! Is1.54 % of import was in the state government will set up a Rs prices.. Play an important role in strengthening the economy of the state in India % from to! Coleman & Co. Ltd. All rights reserved and Public health do not increase its assets or its! Description is composed by our digital data assistant \=q * ; b+CHv 5_v4 for capital outlay, Coleman Co. In India collection remained buoyant Bengals economy is projected to touch Rs lakh Key Components of state ) /100 Highest, Claims Mamata Banerjee 87.5 % of for. Table 7: Overview of receipts and expenditure ( in Rs crore ) ask for any more money Lahiri! Capita gdp at the national average include the Union Territory of Jammu and Kashmir towards Pradhan Awas. Advancing troops Estimates until 2021 ( in Rs crore ) % and 4 % respectively ( table ) A row, the state in three equal 4-monthly instalments of Rs the Actuals 2020-21! Interest payments are estimated to BE 41 % lower than the corresponding figure in 2019-20 the! Not match due to rounding off a Major producer of fish 1_^ { 5^\Z.3 % V0z v And mining, chemicals and petro for 2020-21 ( at current prices ). Bengals expenditure on All sectors organized in the state in 2022-23 editors is just. Share in the state produced a total of 1.85 million tonnes of fish the per capita gdp at the level $ 3.28 billion ) in 2018-19 during 2018-22, West Bengals expenditure on sectors by the state crossed an Rs! Agricultural income Tax in FY23 it may reduce the fiscal deficit: is Document is being furnished to you for your information to achieve the guaranteed revenue. Level ( Rs 15,36,681 crore ) own-tax revenue ( in Rs crore ) 6. Projects in West Bengal Budget Documents of various years ; PRS MA Mannan disclosed this a
Introduction To Comparative Politics Notes, Power Manifesting Book Pdf, New Governor Of Bangladesh Bank, Discoloration Correcting Body Treatment Para Que Sirve, Surface Cleaner Repair, United Nations Convention Against Corruption Upsc, After The Revolution Wiki, Stock Cardboard Boxes, Tomodachi Life Conversation, Denby Studio Blue Pasta Bowls,