Tag: economic policy

The West Bengal government has announced a Rs 29,000 crore borrowing plan for the third quarter of the fiscal year to boost infrastructure, welfare, and employment generation. Finance Minister Chandrima Bhattacharya described the move as vital for sustaining growth through initiatives like rural road expansion, Kolkata metro projects, and the Lakshmir Bhandar scheme. However, with the state’s debt-to-GSDP ratio nearing 40%, critics warn of rising fiscal stress, even as Chief Minister Mamata Banerjee defends the borrowing as a necessary measure to offset central funding gaps.

With India becoming the world’s fourth-largest economy, senior tax expert S.L. Joshi called it a matter of pride but also raised concerns over internal challenges such as inflation, unemployment, and job losses due to artificial intelligence. He urged the government to adopt an “India First” approach and focus on improving the quality of life for its citizens.