West Bengal govt to present Budget in house for Fiscal 2023-24

The West Bengal government is scheduled to present its budget for the next 2023-24 fiscal on Wednesday (February 15). The budget will be tabled by Finance Minister Chandrima Bhattacharya in the house.

As per the sources, it is almost determined that the Mamata-led state government will not only meet its target for state excise collection for this year ending March 31, 2023 but will also surpass it. The target for state excise collection was Rs 16,500 crore and as per the official records of the excise department, the collections till January 31 have already crossed Rs 13,500 crore.

Notably, the state had set a Rs 3,21,030-crore budget in the last financial year. The state government had exempted payment of the Rural Employment Cess and the Education cess for the tea industry, the Agricultural Income cess was waived off to provide relief for small tea gardens. 

It is pertinent to mention that this year's budget comes at a time when the Mamata Government has come face to face with an escalating battle with the Centre on releasing the central component of several rural schemes alleging discrimination of funds. 

As the Central Government presented Union Budget on February 1, Bengal CM Mamata termed it as "anti-people" stating that it will deprive the poor. Addressing a Government function at Bolpur in Birbhum district, she claimed that the changes in the income tax slabs will not help anyone.

"This Union Budget is not futuristic, totally opportunistic, anti-people and anti-poor. It will benefit only one class of people. This Budget will not help address the country's unemployment issue. It has been prepared with an eye on the 2024 Lok Sabha elections," she said.

"The changes in the income tax slabs will not help anyone. There is no ray of hope in this Budget -- it is a dark dark budget. Give me half an hour and I will show you how to prepare a Budget for the poor," she added. Union Finance Minister Nirmala Sitharaman placed the Budget for 2023-24 in Parliament. She announced no tax for those with an annual income of up to Rs 7 lakh under the new tax regime but made no changes for those who continue in the old regime.