Bucking trend Bengal becomes SGST surplus

West Bengal recorded a surplus revenue collection in March 2018. In a congratulatory note to West Bengal government, Hasmukh Adhia, union finance secretary stated that the revenue gap for the state has come down from 33.4% in August to -3% in March, 2018.

According to the note, revenue deficit across the country has come down from over 28 per cent in July 2017 to 17.9 per cent in March.

Acknowledging the letter from the cental government, Bengal chief minister Mamata Banerjee said, “Government of India has congratulated West Bengal for not only bringing down rapidly the revenue gap in State GST, but also registering a revenue surplus in March, 2018. The revenue gap in Bengal, which was 33.4% in August, 2017 has registered a surplus of 3% by March, 2018. “


She further added, “The performance of the state has been far better than that of the country as a whole. Where Bengal achieved a surplus of 3% in March, 2018, the country as a whole registered a revenue deficit of 17.9% in March, 2018. “

Significantly, Mamata Banerjee criticised the hurried implementation of GST though she always maintained that her party in principle supports GST.