Published 20:37 IST, February 10th 2020
After presentation of 'people's Budget', CM Mamata draws ambitious comparison with Centre
Hailing the West Bengal Budget as pro-people, CM Mamata Banerjee contended that the people would judge whether the former or the Union Budget was better.
Taking an indirect dig at the Centre after the presentation of the state Budget in the West Bengal Assembly on Monday, Chief Minister Mamata Banerjee stated that no state PSUs had been put on sale. Her reference to the PSUs can be perceived as a rebuke to the Narendra Modi government for keeping a disinvestment target of Rs.2.1 lakh crore for the fiscal year 2020-21. Earlier, she had slammed the Centre’s move to sell a certain part of its stake in LIC.
Terming it as a “People’s Budget”, she called upon the Central government to extend its co-operation to the state. Furthermore, Banerjee contended that the people would judge whether the West Bengal Budget or the Union Budget was better. The West Bengal budget has an outlay of Rs.2,55,167 crore.
LIC divestment announced
While delivering the Union Budget on February 1, Union Finance Minister Nirmala Sitharaman made a crucial announcement about the divestment of LIC. The government will sell a part of its holding in LIC through the initial public offer. According to her, this would ensure more financial discipline. Without revealing more details, she said, "The government proposes to sell a part of its holding in LIC through the initial public offer." Currently, the government owns a 100% stake in LIC, established in 1956.
The West Bengal Budget
West Bengal Finance Minister Amit Mitra promised that 100 MSME parks would be set up in the next three years. Additionally, households having a quarterly consumption of up to 75 units will be entitled to get free electricity. Rs.5,150 crore has been allocated towards social welfare such as opening new universities, welfare for the aged people in the SC and ST categories, assistance to the unemployed youth and so forth.
Subsequently, Banerjee observed that all sections of the population had been catered to. She also alleged that dues worth crores of rupees were pending with the Centre. This is the last full budget of the Mamata Banerjee-led government.
Updated 20:37 IST, February 10th 2020