Mamta Banerjee Starts Her Second Term under Huge Debt

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Mamta Banerjee

Today the second time winner Mamta Banerjee will take the oath of her office at the Red Road in front of the nation. She will be starting her second tenure today. During the first tenure, she announced many projects which faced a lot of criticisms due to the government being in debt. Her dream projects like Kanyashree, Providing cycles to the government school students, providing cycles to girls and many more of that sort faced severe attacks by the opposition. Experts say that this is not just for the sake of criticising the government. Rather, the government undertook so many projects and declared so many, that it kept on taking loans from the Centre.

Mamta Banerjee

Critics have pointed out that her second tenure just can’t go with blaming the Left for the fiscal mess. The government also has to take a lot of pressure on its shoulders to improve the situation. According to the report submitted to the Reserve Bank, this term, Amit Mitra will stand on the loan of an amount as huge as 3.34 lakh crore at the end of the running fiscal year. This means that at the end of six years of the Trinamool Congress government it will stand at the debt of 3.34 lakh crore. The government may take up steps like increasing the tax rate.

The Reserve Bank said that this step is helpful enough but tough at the same time because it faces a lot of questions by the people. But there are no easy options left at the front.

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