View: Is West Bengal’s economy really growing? Making sense of the state’s GDP numbers

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While other states had to deal with the challenge of a Covid-instigated economic slowdown, West Bengal had to additionally deal with the May 2020 Amphan supercyclone and its disastrous economic impact.

Synopsis

But while Kerala’s budget shows a contraction, West Bengal shows a sharp 8% growth in nominal GDP, against a 4.2% contraction for India. This, if it materialises, would be a remarkable achievement, especially in these pandemic times, and could have a soothing impact on West Bengal’s debt that’s at Rs 5.25 lakh crore, which is more than one-third the size of West Bengal’s economy — both FY2021 and FY2022 estimates at Rs 13.5 lakh crore and Rs 15.1 lakh crore respectively.

After the Union budget, the focus is on state budgets. With the Indian economy set to contract, according to Central Statistics Office (CSO) estimates, by 7.7% of its GDP, gross state domestic products (GSDP) are also likely to contract in FY2021. But while Kerala’s budget shows a contraction, West Bengal shows a sharp 8% growth in nominal GDP, against a 4.2% contraction for India.This, if it materialises, would be a remarkable achievement,

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