BCC&I Reaction on State Budget 2016-17

Pic. -Ambarish Dasgupta

The Bengal Chamber congratulates the State Finance Minister, Dr. Amit Mitra for presenting a forward looking budget for 2016-17, with an almost five fold increase in planned expenditure that focuses on education, employment, agriculture and the MSME sector.  It is encouraging that the State has also been able to achieve a robust seven times growth in agriculture and four times growth in infrastructure development during the past five years while at the same time pushing down fiscal and revenue deficits within manageable limits even in the backdrop of a huge inherited debt burden of over Rs. 2.5 lakh crore. By further simplifying and relaxing tax rules and procedures, Dr. Mitra expects to achieve better tax compliance and fiscal consolidation.