Mitra rings economy alarm; says Bengal’s GDP growth tops charthttps://indianexpress.com/article/cities/kolkata/bengal-finance-minister-amit-mitra-economy-gdp-growth-tops-chart-5895472/

Mitra rings economy alarm; says Bengal’s GDP growth tops chart

“The Indian economy is in a state of deep recession. This is while the government of India is in a deep policy paralysis. Unemployment rate is high. The central government needs to talk to state governments and political parties for find a way out,” he said.

State Finance Minister Amit Mitra addresses mediapersons at the state secretariat on Saturday. Express

Bengal Finance Minister Amit Mitra said the country’s economy is in a state of deep recession. He added that West Bengal is on the top of the list of states with GDP growth.

Speaking to media persons at the state secretariat, Mitra highlighted that West Bengal with 12.58 per cent GDP growth in 2018-19 is on the top of the list of states in this respect.

“I am delighted to say that as per the Government of India’s ministry of statistics and programme implementation just published table on GDP growth of state in 2018-19, our state’s growth is the highest in the country at 12.58 per cent. This at a time when the country is going through deep recession,” said Mitra.

“The Indian economy is in a state of deep recession. This is while the government of India is in a deep policy paralysis. Unemployment rate is high. The central government needs to talk to state governments and political parties for find a way out,” he said.

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“The GDP growth fell to 5.8 per cent in the fourth quarter of 2018-19 financial year, which is the lowest growth rate since the last five years (between 2014-15 and 2019-19. Industrial output growth is 2 per cent in June 2019, which was 7 per cent in June 2018,” said Mitra.

He highlighted that the index of industrial production is 1.2 per cent in June 2019, compared to 6.9 per cent in June 2018.

“Manufacturing grew by 1.2 per cent in June 2019 as against 6.9 per cent in June 2018. Mining grew by 1.6 per cent in June 2019 compared to 6.5 per cent June 2018. Added to this there is high unemployment rate. The automobile sector and ancillary industry is also hit,” said Mitra.

“Investment in new projects plunged to 15 years low in the quarter ending in June 2019. Implementation of investment projects worth Rs 13 trillion has been stalled,” he said.

According to Mitra, Bengal is followed by Andhra Pradesh, which recorded GDP growth rate of 11.2 per cent and Bihar, which recorded 10.53 per cent.