With a brand new authorities in place in West Bengal, the central authorities is planning a complete overview of monetary inclusion initiatives and the utilisation of varied welfare schemes within the state.
Based on sources, the Union Finance Ministry will work carefully with the West Bengal authorities to evaluate the efficiency of flagship schemes of the central authorities, such because the Pradhan Mantri Jan Dhan Yojana and the Swavalamban Yojana. It would additionally overview the extent of beneficiary protection and decide whether or not these schemes have achieved saturation via 100% enrolment of eligible beneficiaries.
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The finance ministry can be anticipated to carry conferences with banks on their efficiency in West Bengal, overview the efficiency of regional rural banks within the state in addition to credit score offtake. “Until now, West Bengal has not been collaborating. The trouble will likely be to see how the state is doing,” mentioned a supply near the event.
The Centre can be anticipated to overview the utilisation of the Particular Help to States for Capital Funding (SASCI) by West Bengal. “Whereas one hears of what different states have been doing utilizing these funds, there was little data from West Bengal,” mentioned the supply.
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Underneath the SASCI Scheme, the Centre gives 50-year interest-free loans to states to fund capital expenditure.
Suvendu Adhikari, the newly elected chief minister of West Bengal, had on June 8 met Finance Minister Nirmala Sitharaman. “Through the assembly, they mentioned methods to speed up West Bengal’s improvement journey. The difficulty of credit score availability within the state throughout numerous sectors and the implementation of Central authorities schemes had been mentioned,” mentioned an official launch.
The finance minister mentioned that, in shut coordination with the state authorities, a renewed saturation drive of flagship schemes will likely be undertaken to cowl each eligible beneficiary beneath these schemes, it had additional mentioned.
West Bengal can be reportedly engaged on a white paper on the state’s debt place. The state’s funds stay beneath pressure, with the fiscal deficit estimated at 3.9% of GSDP in FY25 and the debt-to-GSDP ratio at round 38%.
