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Financial
West Bengal

Report of 2010 - Report on State Finances of Government of West Bengal

Date on which Report Tabled:
Date of sending the report to Government
Government Type
State
Sector Finance

Overview

In terms of Gross State Domestic Product, West Bengal is one of the larger states in the country. On the social front, the State had fared much better than the other General Category States on an average, as it managed to contain infant mortality at level much lower than the all India average and achieved higher percentage of literacy and life expectancy at birth. The percentage of population below poverty line was also lower than the all India average. However, such social achievements notwithstanding, there are some issues of concern as regards financial performance in terms of various fiscal parameters. Besides there are some issues of budgetary management and compliance with financial rules, which call for attention of the Government, as discussed in the succeeding chapters.

With an aim to restructuring of public finances, restoring budgetary balances and achieving macro-economic stability, Twelfth Finance Commission (TFC) recommended that each State must enact fiscal responsibility legislation for eliminating the revenue deficit by 2008-09 and reducing fiscal deficit based on a path for reduction of borrowings and guarantees. In West Bengal, however, Fiscal Responsibility and Budget Management (FRBM) Act was enacted only in July 2010. Based on the audited accounts of the Government of West Bengal for the year ended March 2010. this report provides an analytical review of the Annual Accounts of the State Government. The report is structured in three Chapters.

Chapter 1 is based on the audit of Finance Accounts and makes an assessment of West Bengal Government's fiscal position as on 31 March 2010. It provides an insight into trends in committed expenditure, borrow ing patterns besides a brief account of central funds transferred directly to the State Implementing Agencies through off budget route. Chapter 2 is based on Appropriation Accounts and gives the grant by grant description of appropriations and the manner in which the allocated resources were managed by the service delivery departments. Chapter 3 is an inventory of West Bengal Government's compliance with various reporting requirements and financial rules. The report also has an appendage of additional data collated from several sources in support of the findings.

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