RBI Governor meets Bengal CM Adhikari ahead of state's first budget

Kolkata: The Reserve Bank of India Governor Sanjay Malhotra on Saturday met West Bengal chief minister Suvendu Adhikari in Kolkata.

They are said to have discussed key economic issues related to the state, according to sources close to the development.

A social media post by the chief minister however termed it a courtesy meeting.


Also read: West Bengal government holds pre-budget talks with industry bodies'

The development assumed importance for the state which is known for its strained finances with high debt and fiscal deficits. The RBI is the banker to every state and monitors their financial conditions.

The Bengal government under Adhikari will present it's first state budget on June 22.

Bengal's fiscal deficit was earlier projected at 2.91% and revenue deficit at 1.01% of state GDP while the state's outstanding debt was 38% of the GDP.