Mamata Banerjee Announces 11.43% GST Growth for West Bengal in 2024-25

Kolkata: West Bengal has achieved an impressive 11.43% growth in Goods & Services Tax (GST) collections for the financial year 2024-25, compared to the previous fiscal year, Chief Minister Mamata Banerjee revealed on Sunday. The state collected Rs 4,808 crore more than the previous year, surpassing the national average of 9.44%.

State Achieves Record GST Growth and Stamp Duty Increase

Mamata Banerjee also highlighted a significant rise in the collection of registration and stamp duty during the same period. The number of registered deeds increased by 60,000, reflecting a dynamic and growing market. The state’s collection for registration and stamp duty reached Rs 1,908 crore more than the previous year, marking a growth of 31.05%.

The Chief Minister attributed these positive figures to the state government’s focus on self-reliance and fiscal discipline. “These improved collections indicate our commitment to streamlining state finances and working towards the welfare of the people of West Bengal,” she said.

Concerns Over Overall Fiscal Health

However, economic analysts caution that while GST and stamp duty growth are positive, they do not provide a full picture of the state’s financial health. Key indicators such as revenue mobilisation, expenditure quality, and debt management need to be evaluated for a more comprehensive analysis of fiscal discipline.

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The state’s ranking in the ‘Fiscal Health Index: 2025’ report by NITI Aayog raised concerns, as West Bengal ranked 16th among 18 states. The report cited issues such as high interest payments on debt, which limit the state’s ability to allocate funds for development projects.

Despite the challenges, Mamata Banerjee emphasized that the state’s economic growth is on the rise and that her administration remains committed to improving the state’s financial health.