West Bengal : Economy
(2021)
West Bengal is India’s 6th largest state economy.
West Bengal’s economy is primarily dependent on two things : agriculture and mid-sized industry.
The state's GDP more than doubled between 2011 and 2016.
| GDP | ₹15.36 lakh crore (US$200 billion) (2021-22) | ||||||
| GDP Rank in the country | 6 | ||||||
| GDP per capita | ₹132,932 (US$1,700) (2020–21) | ||||||
| GDP by sector |
| ||||||
| Debt | 34.23% of GDP | ||||||
| Revenue | ₹1.98 lakh crore (US$26 billion) (2022–23 est.) | ||||||
| Expense | ₹2.61 lakh crore (US$34 billion) (2022–23 est.) |
West Bengal is largest producer of rice in India, and second-largest producer of potato and fish.
| Produce | National share % |
|---|---|
| Jute | 82% |
| Cauliflower | 43% |
| Sweet Potato | 37% |
| Potato | 22% |
| Inland Fish | 28% |
| Tea | 25% |
| Rice | 15% |
The state capital Kolkata is the most developed city in eastern India. It is among India’s fastest growing cities, with real GDP growth of 6.3 per cent from 2011–16 and is projected to be in the top 10 fastest growing cities in Asia in terms of GDP. Kolkata’s port is experiencing a 15.9 per cent increase in total traffic.
Kolkata is the centre of India’s mining and resources sector. Coal India is headquartered in Kolkata and the city is a regional economic hub for the mineral-rich eastern states of Jharkhand, Chhattisgarh and Odisha. West Bengal itself is India’s third largest in terms of mineral production, with strong minerals processing equipment and mining industries. It also ranks in the top five states producing iron and steel in India.
West Bengal serves as a gateway to India’s north-eastern states and India’s eastern neighbours. The Siliguri Corridor linking the north-eastern states is of particular strategic importance. But perceptions of corruption, populist leadership and the lack of land and labour reform continue to keep West Bengal from entering the first-tier of state economies. It is among the most indebted in India in terms of the ratio of debt to GSDP.
Economic Strength
- Strong growth higher than the national average, and capacity for mineral production.
- Kolkata is a significant healthcare hub for eastern India and Bangladesh with a large number of super specialty hospitals and diagnostic centres.
- Digitised land records, high road and rail density and port facilities.
- High debt ratio.
- Poor per capita compared to other states in India.
- Low local employment opprtunities. Bureaucracy tangled with political interference imposes challenges in setting up and running business
West Bengal GDP
West Bengal per capita income
West Bengal per capita - 2012-2020
West Bengal GST Revenue
