Financial
West Bengal

Report of 2016 - State Finances Government of West Bengal

Date on which Report Tabled:
Mon 04 Jul, 2016
Date of sending the report to Government
Government Type
State
Sector Finance

Overview

Based on the audited accounts of the Government of West Bengal for the year ending March 2015, this Report provides an analytical review of the Annual Accounts of the State Government. The financial performance of the State has been assessed with reference to the Fiscal Responsibility & Budget Management Act, budget documents, Economic Review 2014-15, Thirteenth Finance Commission Report and other financial data obtained from various Government Departments and organisations. The Report is structured in three Chapters.

Chapter 1 is based on the audit of Finance Accounts and makes an assessment of Government of West Bengal's fiscal position as on 31 March 2015. It, inter-alia, provides an insight into the public finances of the State including trends in receipts, expenditure and borrowing by the State Government, besides a brief account of central funds transferred directly to the State implementing agencies through the off budget route. Chapter 2 is based on the audit of the Appropriation Accounts and gives description of appropriations and the manner in which the allocated resources were managed by the various departments. Chapter 3 is an inventory of Government of West Bengal’s compliance with various reporting requirements and financial rules.

Fiscal position of the State: Revenue receipts of the Government grew at a rate of 18.70 per cent over the previous year, while the corresponding growth of revenue expenditure was 12.91 per cent. During the year, revenue receipts were Rs. 86514 crore as against revenue expenditure of Rs. 103652 crore resulting in revenue deficit of Rs. 17138 crore. The revenue deficit was 2.14 per cent of GSDP as against the Medium Term Fiscal Policy target of 1.29 per cent. The fiscal deficit during 2014-15 stood at Rs. 27346 crore which was 3.41 per cent of GSDP as against the MTFP target of 2.98 per cent.

 

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