‘Despite note ban, GST, West Bengal has done well in financial sector’

In her Facebook post West Bengal Chief Minister Mamata Banerjee said there has been a significant increase in the state’s tax collection.

By: Express News Service | Kolkata | Published: April 3, 2018 1:15:27 am
Mamata Banerjee on demonetisation and GST Mamata Banerjee

Chief Minister Mamata Banerjee on Monday claimed that her government has done well in the financial sector in 2017-18 “despite adverse effects of demonetisation and GST.” In a Facebook post, Mamata said: “Despite the adverse effects of demonetisation and hasty implementation of GST on the economy, performance of our state in financial sector during 2017-18 has significantly improved due to our focussed and persistent approach.”

“Plan expenditure has grown by 16.5% as against our target of 11% from Rs 49,609 crore of 2016-17 to Rs 57,778.60 crore in 2017-18. This is five times the total plan expenditure of Rs 11, 837.85 crore in 2010-11. Capital expenditure has witnessed a growth of nearly 59% from Rs 12,028.50 crore in 2016-17 to a record Rs 19,084.70 crore in 2017-18. The total capital expenditure in 2010-11 was Rs 2,225.75 crore. Thus, the total capital expenditure in 2017-18 is 8.5 times as compared to 2010-11,” the chief minister wrote.

In the post, Mamata said there has been a significant increase in the state’s tax collection. “Tax collection in 2017-18 has gone up to Rs 52,971 crore as compared to Rs 45,647 crore in 2016-17, a gross increase of Rs 7,300 crore. All this has been possible due to our consistent and close monitoring and holding of more than 400 administrative review meetings and public distribution programmes in state, district and block levels,” she added.

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