WB govt tables vote-on-account for Aug, Sep
  • This Section
  • Latest
  • Web Wrap
Last Updated: Friday, June 24, 2011, 19:36
  
Kolkata: The West Bengal government on Friday tabled a vote-on-account of Rs 11,165 crore to meet the expenditure requirements for August and September, 2011.

The vote-on-account was placed in the assembly by Finance Minister Amit Mitra.

He said that in the earlier vote-on-account passed by former finance minister Asim Dasgupta till July 2011, the state's revenue projections had been highly exaggerated and expenditure depressed in the annual financial statement (AFS).

In the last AFS, the revenue growth was projected at 39 per cent growth, which was almost "mythical and divorced from reality", he said

The focus, in the new AFS, would be on social and physical infrastructure, human development and neglected regions of the state.

Mitra said that the new AFS has been based on the preliminary estimates provided by the CAG for 2010-11.

He further stated that the state has already increased its share by more than Rs 2,200 crore with the view to avail higher quantum of matching funds from the central government.

As per reports of the Planning Commission, 20,000 schools in the state did not have toilets for girl students and 57,000 kitchen shades had not been built for mid-day meals, he said.

Later, Mitra told reporters that it had not been possible to table a full-fledged budget due to lack of time.

Presentation of a full-fledged budget takes a minimum of three to four months, while the government is just over a month old, Mitra said, adding the full budget would be placed upon directions of the Chief Minister as she was already in talks with the Centre for getting additional financial assistance.

"We are expecting the Centre's help to synergise with the state's expectations," he said.

To a query, he said the government was working on to raise tax buoyancy.

"Raising tax rates merely is not required to raise revenues. Improving compliance is also another way", he said.

The chief minister has already said the tax reforms would be made to increase compliance.

Mitra said the state had lost to the extent of Rs 3,157 crore from the Centre for failing to pass the FRBM Act on time.

Given the size of the state's GDP, the borrowing capacity is Rs 17,800 crore, out of which Rs 8,000 crore has already been raised from open market operations, he said.

PTI


First Published: Friday, June 24, 2011, 19:36


comments powered by Disqus