The state governor said that West Bengal was facing a financial crisis of enormous proportion and could publish a white paper on it in due course.
In no ordinary message in first session of a non-Left government after 34 years, West Bengal governor MK Narayanan hinted at a massive cash deficit of Rs9,000 crore which is big enough to spike some of the ambitious projects of the new government and wants government to come up with a white paper on the financial health of the state.
Narayanan, who might be just dropping hints on the first day at the size of financial sickness of the state ruled by the CPI(M)-led Left Front government, he without mentioning put the new chief minister Mamata Banerjee’s message to people very clearly that they have a vision to accomplish a high growth story and development, but massive debt and deficit might turn the tables on ambitious targets.
"`When the new government took over the reins of the State, it inherited a massive debt burden….’’ and which has already reached Rs1,85,660.47 crore and is estimated to touch Rs2,03,488 crore… this year.’’
While Narayanan may not have given out altogether a new piece of information, his saying that the "state is likely to face a cash deficit as high as Rs9,000 crore,’’ is frightening enough. According to political observers here governor’s speech assumed a deeper political colour as given the financial disorders and lack of funds, the new government could not be held responsible for some of the missed developmental targets in days to come.
As piece of advice for the new government, he also urged that they should come up with a white paper on financial health of the state.
Explaining chronic under provisioning in vital areas such as food & supplies, health and family welfare, minority affairs, school education, health engineering, transport, urban development, etc., he said: "In other words, the new government is facing a financial debacle of gigantic proportions.’’
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