Finance Minister Nirmala Sitharaman has announced a comprehensive review of welfare scheme implementation in West Bengal, following her meeting with Chief Minister Suvendu Adhikari on June 8 in New Delhi. According to government sources, the review will focus on renewed saturation drives for various flagship schemes including Pradhan Mantri MUDRA Yojana, Jan Dhan Yojana, Jeevan Jyoti Bima Yojana, Suraksha Bima Yojana, Atal Pension Yojana and PM SVANidhi. The Finance Minister emphasized that a renewed saturation drive would be undertaken in close coordination with the state government to ensure that all eligible beneficiaries are covered under these key financial inclusion programs. The review will also cover the Special Assistance to States for Capital Investment (SASCI) scheme to strengthen capital infrastructure in Bengal, as reported by government sources. Sitharaman assured support for the processing of eligible proposals from West Bengal under the SASCI scheme and further urged the state government to expedite the implementation of reforms identified under the reform-linked component of the SASCI Scheme.
The Finance Ministry is expected to hold meetings with banks on their performance in West Bengal as part of the comprehensive review initiative. According to sources, the Union Finance Ministry will work closely with the West Bengal government to assess the performance of flagship schemes of the central government, such as the Pradhan Mantri Jan Dhan Yojana and the Swavalamban Yojana. The ministry will review the extent of beneficiary coverage and determine whether these schemes have achieved saturation through 100% enrolment of eligible beneficiaries. Officials indicated that the Finance Ministry will review reports submitted by banks to identify gaps in implementation and improve the delivery of government initiatives. "Till now, West Bengal has not been participating. The effort will be to see how the state is doing," said a source close to the development. This comprehensive assessment aims to ensure that the benefits of Central schemes reach all intended recipients in the newly BJP-governed state.
The Finance Ministry has decided to closely monitor the implementation of Central government welfare schemes in West Bengal and assess whether previous state administrations effectively utilized them. As part of this exercise, banks have been tasked with evaluating the extent to which Central schemes have reached eligible beneficiaries and whether the programmes have achieved saturation on the ground. Officials indicated that the Finance Ministry will review reports submitted by banks to identify gaps in implementation and improve the delivery of government initiatives. This comprehensive assessment aims to ensure that the benefits of Central schemes reach all intended recipients in the newly BJP-governed state.
Responding to the Chief Minister's request, Sitharaman announced that roundtable meetings involving public sector banks, industry bodies and MSME associations would be organised across all regions of West Bengal to enhance credit access, boost entrepreneurship and create employment opportunities. The Finance Minister also announced that the performance of West Bengal Gramin Bank would be reviewed to strengthen financial inclusion and improve access to formal credit in rural areas. These initiatives are part of the government's broader strategy to accelerate the state's development in line with Prime Minister Narendra Modi's vision and ensure effective implementation of financial inclusion schemes in the newly BJP-governed state. The minister will also review the Regional Rural Banks (RRBs) in the state, with credit offtake being a key discussion point during these meetings.
The review follows BJP's landslide victory in West Bengal last month, which replaced the Trinamool Congress government that had ruled the state for 15 years. West Bengal Chief Minister Suvendu Adhikari met Sitharaman on June 8 in New Delhi to discuss the state's development priorities. During the meeting, they discussed ways to accelerate West Bengal's development journey. The issue of credit availability in the state across various sectors and the implementation of Central government schemes were discussed, as reported by an official release. The meeting, coming just over a month after the BJP stormed to power in West Bengal for the first time, also focused on improving the credit availability across various sectors in the state and bolstering the implementation of central government schemes there. The meeting reflects the central government's commitment to ensuring effective implementation of financial inclusion schemes in the newly BJP-governed state.
According to government sources, this comprehensive review is expected to help the state contribute to India's growth journey in industrial development, expanding entrepreneurial opportunities, and employment generation. The government is also keeping a close watch on developments in West Asia amid ongoing geopolitical uncertainties, with conserving foreign exchange emerging as a key priority for policymakers. Meanwhile, the Centre is expected to clear all pending bills in West Bengal, signalling efforts to streamline financial administration and ensure the smooth flow of funds for ongoing projects and public welfare programmes in the state. The move represents a systematic approach to strengthening financial inclusion and development initiatives in West Bengal. West Bengal is also reportedly working on a white paper on the state's debt position, with the state's finances remaining under strain, with the fiscal deficit estimated at 3.9% of GSDP in FY25 and the debt-to-GSDP ratio at around 38%.
