54 mins ago
West Bengal Ties ₹3,000 Welfare Payments to Economic Growth
West Bengal owes about ₹8 lakh crore.
The state is still giving some women ₹3,000 every month as welfare support.
Finance Minister Swapan Dasgupta says this support can continue if the state’s economy grows.
He wants more businesses to invest in manufacturing, services and technology.
He also mentioned health services, health tourism and knowledge cities as possible growth areas.
Dasgupta said West Bengal has struggled with a poor image among investors.
He linked this image to political problems, uncertainty around industry and the Tata Nano project leaving Singur.
The new Annapurna Yojana replaced the earlier Lakshmir Bhandar scheme on June 1.
The government hopes economic growth will help it manage its debt and pay for welfare.
West Bengal Finance Minister Swapan Dasgupta said the state’s roughly ₹8 lakh crore debt must be addressed through economic growth.
He said welfare spending is more sustainable when supported by growth and pledged not to increase the state’s debt.
The state plans to attract enterprise in manufacturing, services, deep tech, health services, health tourism and knowledge cities.
Dasgupta said West Bengal’s investment image was damaged by political turbulence, industrialisation uncertainty and the Singur controversy.
The Annapurna Yojana, introduced on June 1, gives eligible women aged 25 to 60 ₹3,000 monthly through direct benefit transfers.
- Who
- West Bengal Finance Minister Swapan Dasgupta and the BJP-led state government.
- What
- The government introduced ₹3,000 monthly payments for eligible women while saying economic growth will help manage the state’s debt.
- Where
- West Bengal, India.
- When
- The Annapurna Yojana took effect on June 1; Dasgupta also took charge as finance minister on June 1.
- Why
- The government says growth is needed to support welfare spending, tackle debt and improve West Bengal’s investment prospects.
Key facts
- Estimated state debt
- About ₹8 lakh crore
- Monthly welfare payment
- ₹3,000 under the Annapurna Yojana
- Eligibility
- Women aged 25 to 60 who meet the scheme’s eligibility requirements
- Payment method
- Direct benefit transfer to Aadhaar-linked bank accounts
- Previous scheme
- Lakshmir Bhandar provided ₹1,500 to most women and ₹1,700 to SC/ST beneficiaries
- Growth sectors cited
- Manufacturing, services, deep tech, health services, health tourism and knowledge cities
- Comparison cited
- Dasgupta said Maharashtra has around ₹9 lakh crore in debt alongside a vibrant, growing economy
Quotes
Swapan Dasgupta
West Bengal finance minister and BJP leader
“Firstly, it's an obscene amount of debt. We are determined that we are not going to increase it. Secondly, welfare without economic growth is a burden on the state. But welfare with economic growth doesn't become that much of a burden.”
businesstoday.in
“The first challenge really is to get the image of the state that we mean business, and that we are a state which is committed now that Bengal has shed its past.”
businesstoday.in
Sources
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