Slamming Suvendu Adhikari, a minister for Chandrima Bhattacharya, advised lawmakers to make sure the BJP-led central government pays its debts. Bengal The leader of the opposition in West Bengal, Suvendu Adhikari, asserted today that the state administration “breached its borrowing limit” under the Fiscal Responsibility & Budget Management (FRBM) Act by requesting a loan from the Reserve Bank of India for Rs. 10,000 crore (RBI).
The Nandigram BJP MLA pleaded with the Union Finance Ministry on Twitter to encourage the state to increase internal revenue by changing its land policy.
Adhikari was criticised by Chandrima Bhattacharya, Minister of State for Finance, who stated the “worried” lawmaker should take action to ensure that the BJP-led central government paid the debt it owed Bengal.
According to Mr. Adhikari’s tweet, as reported by NDTV: “The West Bengali government has asked RBI for a loan in the amount of Rs. 10,000 crore. Sadly, WB has already exceeded the amount of money it could borrow by the Fiscal Responsibility & Budget Management (FRBM) Act. The fact that Bengal is reportedly $6 lakh crore in debt equally concerns.”
Instead, he continued, “@FinMinIndia should advise the State of WB to boost internal revenues by altering land policy and creating a welcoming environment for setting up industries and luring investment which would also stimulate the economy, create employment, and aid in reducing the burden of debt.”
Ms. Bhattacharya responded angrily, stating that the state is permitted to borrow on the open market under the FRBM Act and that the Leader of the Opposition should be aware that an Assembly Bill relevant to Bengal’s borrowing ability was enacted.
“I don’t recall if the Leader of the Opposition attended the debate in the House. He may have spoken his opinions at the time. Before tweeting, he need to have verified the facts “Minister speaking to PTI.
Despite “many obstacles,” she continued, Bengal currently ranks among the states with the fastest-growing GDP (Gross Domestic Product), and its public debt to GDP ratio is 34.23%.
If he (Mr. Adhikari) takes the initiative to facilitate the clearing of Bengal’s mounting dues from the centre, she continued, “there won’t be any need to make a loan request to RBI.”
In the 3.21 lakh crore budget that the minister had presented to the Assembly on March 11, the state administration planned to raise the public debt by a total of 1,14,958 crore.