West Bengal was the second-most industrialised state in terms of value added and first in terms of number of factories and employment even in the mid-1960s. With a severe and long process of deindustrialisation, it lost its primacy.
Notably, the present government has been vociferous about the high debt it inherited from the Left Front government
Bharat Electronics, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, InterGlobe Aviation, ICICI Bank and UltraTech Cement were among the other major gainers. Axis Bank, Infosys, Tata Consultancy Services, Trent and Titan were the laggards.
The GoM of state ministers on GST rate rationalisation on Thursday accepted the Centre's proposal to move to a two-slab structure of 5 and 18 per cent. Bihar Deputy Chief Minister and convenor of rate rationalisation GoM Samrat Choudhary said the six-member state ministerial panel has also accepted the proposal of removing the 12 and 28 per cent slabs.
'The question for the TMC is not whether it can hold its bastions, but whether it can expand effectively into regions where the BJP already possesses a good ecosystem.'
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
A policy-related problem that urgently needs to be redressed is the 'miniaturisation' of projects.
While the Trinamool government, led by Chief Minister Mamata Banerjee, tried its best to attract investors, including from Singapore, not much headway could be made.
The EC also ordered the removal of Principal Secretary (Home) Atri Bhattacharya and Additional Director General, CID, Rajiv Kumar from their postings in West Bengal.
The Trinamool Congress won 211 seats.
Senior Congress leader and Finance Minister Pranab Mukherjee resigned as chief of party's West Bengal unit on Sunday citing "heavy government responsibilities", and Congress Legislature Party leader Manas Ranjan Bhunia was appointed to the post by Sonia Gandhi.
At present there are 12 major ports in India.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
Satadru Dutta's rise was swift and ambitious. But that journey took a dramatic nosedive on Saturday.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
The Comptroller and Auditor General of India (CAG) has launched an integrated audit across 32 states and Union Territories to assess the ease of doing business for the micro, small and medium enterprise (MSME) sector.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
Mamata Banerjee was on Friday sworn in as the chief minister of West Bengal for the second consecutive time, heading a 42-member ministry.
'The chief minister believes the poorest of the poor have the first right on government resources.'
'At COP30, the emphasis will be on unlocking climate finance, reinforcing the principle of common but differentiated responsibilities, and building resilience through inclusive transitions and the mainstreaming of adaptation.'
'Previously, contributing only 25 per cent of material costs, states now face burdens of 40 per cent to 100 per cent of total costs, ensuring poorer states will curb project approvals, directly stifling work demand.'
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
West Bengal Chief Minister Mamata Banerjee has accused the Border Security Force (BSF), central agencies, and the BJP of fanning tension in Murshidabad by allegedly facilitating cross-border influx from Bangladesh. She also urged Prime Minister Narendra Modi to keep the Union Home Ministry under control. Banerjee has announced a compensation of Rs 10 lakh each for the families of three people killed during the violence and directed the state chief secretary to initiate a probe into the role of the BSF.
CAG warns most states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24.
The Centre has proposed exempting life and health insurance policies for individuals from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
The phase is crucial as it will decide the fate of several ministers -- Finance Minister Amit Mitra, Agriculture Minister Purnendu Basu, Law Minister Chandrima Bhattacharya, Tourism Minister Bratya Basu, Food and Supplies Minister Jyotipriyo Mullick and Agriculture Marketing Minister Aroop Roy.
Radical Islamist networks are deliberately targeting Muslim youths embedded within the country's professional and academic ecosystems, leveraging their skills, mobility, and digital reach to quietly strengthen operational capabilities. This trend highlights a dangerous evolution in terror recruitment -- one that exploits ideological faultlines, online echo chambers and transnational radical Islamist influences to attract individuals who outwardly embody India's modern and aspirational narrative, points out Dr Kanchan Lakshman.
Sukanta Majumdar, the state BJP president, said, "Amit Shah has set a target of 35 seats. We will achieve that".
Analysts have their doubts how much independence she has as finance minister. As Amit Mitra advises the chief minister, day-to-day work is done by the finance secretary and the chief secretary.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
Uttar Pradesh, Gujarat and Odisha budgets maintain revenue surpluses despite welfare schemes while Rajasthan and West Bengal face high debt, fiscal deficits and low capital outlay.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
With the summer approaching sooner than scheduled, Maharashtra, Telangana, Odisha, and West Bengal have already started experiencing heat waves with temperatures soaring above 40°C.
Seven more deaths were reported on Friday from interior villages of the flood-hit East and West Midnapore districts, raising the toll to 53, even as the situation further improved.
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