West Bengal FM unveils budget of Rs 3.39-lakh crore for 2023-24

On Wednesday, the Finance Minister of West Bengal, Chandrima Bhattacharya, introduced a budget of Rs 3.39-lakh crore for the fiscal year 2023-24.

The budget included a recommendation to eliminate the agricultural income tax for tea gardens for a two-year period, as well as extending credit access to young entrepreneurs.

She said the state GDP is projected to grow at 8.4 per cent and the industry at 7.8 per cent in the ongoing 2022-23 fiscal.

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I propose to provide Rs 3.39-lakh crore budget for financial year 2023-24, Bhattacharya said, while placing the financial statement in the assembly.

The minister also said a Rs 350-crore fund will be set up to extend credit of up to Rs 5 lakh each to 2 lakh young entrepreneurs.

Announcing sops for the ailing tea sector and for rural areas, which will be witnessing panchayat polls soon, the finance minister said, Agricultural income tax on tea gardens for 2023-24 and 2024-25 will be waived. Also, 11,500-km of rural roads will be constructed at a cost of Rs 3,000 crore.

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Besides, the budget also proposes full waiver of charges on irrigation water supplied to farms.

The minister also announced an additional dearness allowance of 3 per cent for state government employees, including teachers and pensioners.

(With agency inputs)