Kolkata, Jan 12 (PTI) The Economic Review for 2024-25 presented by the West Bengal government in the assembly on Wednesday said that the state had achieved growth over the years through fiscal discipline.

The review said that in the last 13 years, the West Bengal economy has witnessed tremendous growth.

The size of the economy, measured in terms of nominal gross state domestic product (GSDP) has reached a level of Rs 18,15,010 crore in 2024-25. In the same fiscal, the state economy is estimated to grow by 6.80 per cent in real terms.

According to the review, fiscal health of the state has improved impressively in the last 13 years.

The state's own tax revenue collection has risen by more than four times between 2010-11 to 2023-24. On the other hand, capital expenditure has been consistently increasing since 2011-12.

Also, government spending on agriculture and allied sector, rural development and social welfare schemes has increased enormously, the review said.

On account of effective fiscal consolidation measures, the total debt of the state as a percentage of GSDP has shown a consistent decreasing trend.

Revenue deficit as a percentage of total revenue receipt has reduced from 36.55 per cent in 2010-11 to 12.83 per cent in 2023-24, it said.

The fiscal deficit of the state has also shown a steady decrease over the last few years.

The review also said that the aim of the state government is to ensure a decent standard of living for all people across different sections of the society.

Empowering women has always been a priority for the state government in the last 13 years. ‘Lakshmir Bhandar’, a financial assistance scheme for women, is the pioneering project of the state government to provide a basic monthly income to 2.21 crore women in the state.

Over the last 13 years, there has been significant growth in industrial output in West Bengal. The state has become a favourite destination for investors, both foreign and domestic, the review said. PTI dc BSM NN

Fiscal discipline credited with sustained growth through revenue mobilisation, capital spending and targeted social support programmes. The review presents fiscal discipline as the core mechanism for sustained growth, noting improved fiscal health through increased own tax revenue, rising capital expenditure, higher social and agricultural spending, and fiscal consolidation that reduced the debt to GSDP ratio, revenue deficit share and fiscal deficit.