Noting that West Bengal authorities has variations with the Centre on points associated to revival of the financial system, state business minister Partha Chatterjee on Thursday stated Trinamool Congress dispensation is trying to increase demand and improve the buying energy of individuals for general growth.
Participating within the Budget dialogue within the meeting, he stated the BJP-led NDA authorities on the Centre is pushing for provide stimulation, whereas the state is in favour of demand creation, which is able to result in the welfare of individuals.
“If there is demand, then there will be supply. This is what the Keynesian theory advocates. What we are saying is to increase the purchasing power of people which will lead to overall development and creation of a welfare state,” Mr Chatterjee stated.
Renowned economist John Maynard Keynes argued that demand deficiency and protracted unemployment could be tackled if the federal government undertakes numerous funding programmes, thereby elevating demand and public expenditure.
Mr Chatterjee on Wednesday offered the Budget for the monetary 12 months 2021-2022 within the meeting as state Finance Minister Amit Mitra was unwell.
The minister stated the debt-GDP ratio of the state stood at 40.65 per cent in 2010-11, which got here right down to 34.57 per cent in 2019-20.
“Is this not progress,” he requested.
Mr Chatterjee additionally criticised the Centre for its disinvestment coverage and for not paying the state authorities’s dues in time.
“The Centre should pay the dues to the state…the “Make in India” campaign of the central government has turned into “sale of India” with many PSUs being put on the block,” he stated.
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