With a population of around nine crore and cumulative debt of Rs 5.86 lakh crore, debt per capita in West Bengal stands at a conservative estimate of more than Rs 60,000.
When the ruling Trinamool Congress assumed office in 2011, the total debt of the state stood at Rs 1.97 lakh crore.
In the budget for 2023-24 presented in the state assembly on Tuesday, the West Bengal government has proposed to raise money from the market to the tune of Rs 79,000 crore, compared to the 2022-23 revised figure of Rs 75,000 crore.
Noted economist Ajitava Ray Chaudhuri said, "The present generation has contracted such a debt stock which has to be repaid by the future generation".
"If a such high debt is backed by equivalent assets created, the burden on future generation will be lower," Ray Chaudhuri said.
The state's tax revenue for the year 2023-24 is also projected to be Rs 89,000 crore, in contrast to Rs 79,500 crore in the revised figure for 2022-23.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app