A day after the interim Budget (vote on account), West Bengal Finance Minister Amit Mitra stated the Centre is imposing cess and surcharges to disclaim the states from getting their share of revenues.
Addressing a digital press convention, Mitra stated, “The quantum of cess and surcharges have been increased from 8 to 16 per cent by the Centre in the last several years. Since collection from cess and surcharges are not to be shared with the states, that is why they are being raised. The Comptroller and Auditor General (CAG) had already asked the Centre not to raise cess surcharges in this manner.”
Due to well being points, Mitra couldn’t ship the interim Budget on Friday, which was introduced by Chief Minister Mamata Banerjee on his behalf. She introduced the Rs 2.99 lakh crore vote- on-account.
Speaking on the vote-on-account, Mitra had stated the state’s tax assortment has elevated 3.57 occasions since 2011 — for the reason that Trinamool Congress got here to energy — and its debt to GSDP ratio had declined from 40.65 per cent in 2011 to 34.81 per cent at current. He additionally stated fiscal deficit had fallen from 4.24 per cent to 2.94 per cent on the newest depend.
The Minister additional stated the state’s growth expenditure had risen six occasions, capital expenditure 14 occasions and social expenditure 9.15 occasions.
Expenditure on bodily infrastructure had elevated 5.58 occasions for the reason that TMC got here to energy in 2011. According to him, the state authorities has taken huge strides in creating college and better training, minority affairs and public works and well being expenditure.
