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Nobody cares for West Bengal’s recent slowdown economy, what happened in Bengal?



West Bengal is now witnessing the battle of assembly election. This is the most important assembly election battle for Mamata Banerjee but we need to to give our attention to the states economics as well. Because it’s gradually slowing down and nobody is talking about it.

TMC faces wrath from opposition about corruption, stalled industrialisation, joblessness in youth, infrastructure development and agricultural spend. Is this a propaganda of BJP or fact? Let us know.

In 2019-2020, West Bengal’s GSDP growth at 7.26 percent which is higher than National GSDP growth at 4.0 percent. But if we take a look at 2015-2020 period then Bengal’s GSDP growth has been lower than National GSDP growth. RBI data is showing the same that West Bengal is one of the poorest performers on bank credit growth.

Even in 2018-2020, aggregate credit of scheduled commercial banks grew by 20 percent but Bengal there produced only 10.6 percent growth. Even on national level, deposits expanded by 19.8 percent but in West Bengal we saw only 14.1 percent growth.

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Now come to the point of employment which is perhaps the most important issue of this ongoing election. CMIE data for February 2021 shows West Bengal ranked 17th in unemployment rate among 27 states. A non agricultural labour on national level in average gets 294 rupees daily but in West Bengal the wage rate was lower by almost 8.5 percent.

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Talking about agricultural growth, the share of agriculture spending was the lowest in six years ending March 2020. Besides, Mamata Banerjee has been accused of not implementing Ayushmann Bharat scheme, PM Kisan Samman Nidhi scheme and many more.