Bengal’s Economy Akin to Devasted Post-World War II Germany: Swapan Dasgupta
- Jun 11
- 2 min read
West Bengal Finance Minister Swapan Dasgupta talked about devasted economy of the state while hinting at a 'Marshall Plan' to deal with it
By Ajay Haldar
Kolkata, June 11: West Bengal Finance Minister Swapan Dasgupta likened West Bengal to post-World War II Germany to highlight the daunting task he faced to bring the devasted economy back on track.
"When Germany was completely devastated, it had to be rebuilt through new types of initiatives. A similar 'Marshall Plan' might be needed for West Bengal," Dasgupta, who was sworn in as finance minister on Wednesday, said.
Dasgupta, a noted academic and political commentator, said the state's Finance Department requires a new strategic plan as the economy was devasted like that of post-World War II Germany.
He visited Siliguri on Thursday and spoke with tea garden workers to understand the issues they faced. This was one sector which had great potential.
He said increasing revenue was essential to revitalising the state's Finance Department, though he was not in favor of raising taxes to achieve this. His challenge lies in boosting revenue collection without increasing tax rates, he added.
"In the past, taxes used to be imposed on everything. There are certain loopholes in the prevailing system here; everyone is aware of that. We need to examine why these gaps exist and whether the issue lies within the system itself. We must explore ways to maximize revenue generation without placing an additional tax burden on the people. An increase in taxes does not always lead to higher revenue; in fact, revenue can sometimes rise when taxes are lowered. This matter requires careful consideration," he told the media persons on Wednesday.
