Guv Bose seek details of 1.17 lakh crore central funds from CM Mamata

West Bengal Governor CV Ananda Bose has sent a letter to Banerjee, requesting details on the utilization of Rs 1.17 lakh crore in central funds allocated to the state for the financial year 2023-24. This inquiry follows reports indicating that the West Bengal government has failed to submit multiple Comptroller and Auditor General (CAG) reports to the state assembly, raising concerns about its constitutional obligations.

A source from Raj Bhavan indicated that allegations of mismanagement of the central funds have emerged. The fiscal landscape of West Bengal is under scrutiny, with multiple risks threatening public financial management. The governor pointed out that the fiscal deficit has surged from approximately Rs 33,500 crore in 2018-19 to nearly Rs 49,000 crore in 2022-23, while the GSDP-debt ratio climbed from 35.69% to over 37% during the same period. Additionally, Bose highlighted that a significant portion of public debt receipts has been allocated for debt repayment between 2021-22 and 2022-23.

Bose's letter further notes that West Bengal has greatly benefitted from the Fifteenth Finance Commission awards. The state is set to receive a revenue deficit grant of Rs 40,115 crore from 2021-22 to 2024-25, amounting to 13.62% of the total revenue deficit grant for states. In the 2023-24 fiscal year, central transfers alone constitute around 55% of West Bengal's total revenue of Rs 2.13 lakh crore.

The governor emphasized the need for the state government to submit six CAG audit reports, including the Compliance Audit Report 2020-2021 and the State Finances Audit Report 2022-2023, to the assembly. He referenced Article 151 of the Indian Constitution, which mandates that CAG reports related to state accounts must be presented to the assembly. Additionally, Bose urged the state to adopt measures for fiscal prudence and transparency and suggested the issuance of a White Paper outlining the state’s fiscal situation.