NEW DELHI: The finance ministry is set to undertake a comprehensive review of Centre’s flagship schemes in West Bengal as part of a four-pronged strategy focused on financial inclusion, rural banking reforms, infrastructure spending and fiscal oversight, sources said on Tuesday.
The move comes weeks after the BJP won elections in the state. West Bengal CM Suvendu Adhikari met Finance Minister Nirmala Sitharaman on Monday to discuss the state’s development priorities.
The Centre’s immediate focus will be on ensuring effective implementation of key flagship programmes, including the Pradhan Mantri Mudra Yojana, PM Vishwakarma, Pradhan Mantri Jan Dhan Yojana, Ayushman Bharat and Pradhan Mantri Awas Yojana, sources said.
Officials said these schemes had faced implementation bottlenecks under the previous administration, resulting in lower-than-expected coverage in parts of the state.
The second pillar of the strategy centres on financial integration and banking reforms. The finance ministry plans to increase banking penetration, expand access to formal financial services and strengthen the delivery of welfare schemes through the banking network.
“First, the government aims to bring more banks into the state and ensure they function at full capacity, particularly in implementing flagship welfare programmes. Second, we will undertake a detailed review of Regional Rural Banks to improve rural credit delivery,” a senior official said.
The third focus area involves accelerating infra investment through faster utilisation of funds under the Scheme for Special Assistance to States for Capital Investment (SASCI) and clearing pending development-related payments. Under SASCI, the Centre provides 50-year interest-free loans to states for capital expenditure projects aimed at boosting growth and employment.
The fourth pillar will involve close monitoring of credit offtake, state finances and borrowing requirements to ensure fiscal sustainability and efficient utilisation of resources.
