West Bengal State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for West Bengal FY 2023-24
West Bengal State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 2.09 lakh crore
+51.0%
Total Expenditure
Rs 2.67 lakh crore
+18.7%
Fiscal Deficit
3.5%
Rs 59,306 crore
Capital Expenditure
Rs 30,537 crore
+13.9%
Tax Revenue
Rs 92,742 crore
+46.1%
Interest Payments
Rs 42,275 crore
16% of expenditure
West Bengal Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
West Bengal Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP â West Bengal 2023-24
The fiscal deficit for West Bengal in 2023-24 is 3.5% of GSDP (Rs 59,306 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. West Bengal is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 42,275 crore consume 15.8% of total expenditure.
West Bengal State Budget 2023-24 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 3.29 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.09 lakh crore | 63.4% |
| a. Own Tax Revenue | Rs 92,742 crore | 28.2% |
| b. Non-Tax Revenue | Rs 3,148 crore | 1.0% |
| B. Total Expenditure | Rs 2.67 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.37 lakh crore | 88.6% |
| 2. Capital Expenditure | Rs 30,537 crore | 11.4% |
| of which: Interest Payments | Rs 42,275 crore | 15.8% |
| C. Fiscal Deficit | Rs 59,306 crore | 3.5% of GSDP |
Source: West Bengal State Budget Documents via PRS India. All figures in Indian Rupees.
West Bengal Department-wise Expenditure 2023-24
Top departments by allocation in West Bengal for 2023-24
| Department â | Revenue â | Capital â | Total â | Share |
|---|---|---|---|---|
1. Education | Rs 33,000 crore | Rs 2,500 crore | Rs 35,500 crore | 13.3% |
2. Rural Development | Rs 17,000 crore | Rs 3,500 crore | Rs 20,500 crore | 7.7% |
3. Health & Family Welfare | Rs 14,000 crore | Rs 2,000 crore | Rs 16,000 crore | 6.0% |
4. Social Welfare | Rs 14,000 crore | Rs 1,400 crore | Rs 15,400 crore | 5.8% |
5. Police & Home | Rs 12,000 crore | Rs 1,400 crore | Rs 13,400 crore | 5.0% |
6. Agriculture & Allied | Rs 10,500 crore | Rs 1,700 crore | Rs 12,200 crore | 4.6% |
7. Urban Development | Rs 9,000 crore | Rs 3,000 crore | Rs 12,000 crore | 4.5% |
8. Transport & Roads | Rs 6,000 crore | Rs 5,000 crore | Rs 11,000 crore | 4.1% |
9. Water Supply & Sanitation | Rs 4,200 crore | Rs 3,200 crore | Rs 7,400 crore | 2.8% |
10. Water Resources & Irrigation | Rs 3,200 crore | Rs 3,500 crore | Rs 6,700 crore | 2.5% |
West Bengal Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised expenditure at Rs 3,10,000 crore â marginally below budget estimates.
- Tax revenue shortfall of approximately Rs 7,000 crore as GST growth moderated.
- Fiscal deficit revised to Rs 65,000 crore at 4.0% of GSDP.
- Welfare schemes maintained at budgeted levels â Lakshmir Bhandar and Kanyashree fully funded.
- Capital expenditure compressed to Rs 36,000 crore as metro and highway projects faced delays.
- Interest payments at Rs 45,000 crore â the largest single expenditure category after salaries.
- Central transfers fell short by Rs 6,000 crore from estimates.
- Health spending maintained at Rs 18,000 crore with Swasthya Sathi claims rising 15%.
- Agriculture sector impacted by cyclonic weather in coastal districts.
- Outstanding debt at Rs 5,80,000 crore with debt-to-GSDP at 34%.
Compare West Bengal Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 2.25 lakh crore | Rs 2.67 lakh crore |
| Revenue Receipts | â | â | â | Rs 1.38 lakh crore | Rs 2.09 lakh crore |
| Capital Expenditure | â | â | â | Rs 26,800 crore | Rs 30,537 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 3.7% | 3.5% |
| Own Tax Revenue | â | â | â | Rs 63,500 crore | Rs 92,742 crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding West Bengal State Budget 2023-24
The West Bengal state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
West Bengal Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare West Bengal with other states
Side-by-side comparison of fiscal metrics across Indian states