West Bengal Finance Minister Amit Mitra on Thursday said the perception about the state is different from the robust macro-economic numbers detailed by "hard data" on the ground.
He also said the slowdown in the economy is due to the "wavered policies" of the central government, from demonetisation to the GST implementation.
"The perception about West Bengal is different from the hard data on the ground," Mitra said at the 'West Bengal Conclave' organised by CII here.
He said capital expenditure in the state has increased 11 times, while plan expenditure has grown phenomenally, too.
The minister said the state's rate of growth is the highest in the country according to government data, and ease of doing business has improved.
Mitra said both the IMF and the World Bank have lowered growth projections of the country, adding, there has been a dip in exports as well.
"Where is the fiscal headroom? Direct tax collection growth has been five per cent in the last five-and-a-half months... Savings and aggregate investment rates have also declined," the minister said.
He said in order to meet the budgetary target of 17.3 per cent, the growth in direct tax collection will have to be 27 per cent in the remaining six months of this fiscal.
"There has also been a capital flight. From 2014 till date, the capital flight from India is USD 45 million," Mitra claimed.
He also alleged that "faulty GST roll-out" has led to frauds worth more than Rs 45,000 crore.
"The country is facing the highest unemployment rate in the last 44 years, while it has dropped 40 per cent in West Bengal," Mitra said.
British Deputy High Commissioner to Kolkata, Bruce Bucknell, who was also present at the event, said the state needs to hardsell itself to change its perception.
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