Allowance schemes under scrutiny: RBI asks states to reduce spending—Lakshmi Bhandar affected?

Various welfare schemes operate across different states in India, including West Bengal. Millions benefit from schemes like Lakshmi Bhandar and Kanyashree, introduced by Mamata Banerjee. However, the allowance amounts for these schemes might change from January.

Ajay Joseph | Published : Dec 21 2024, 03:33 PM

1 Min read

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The Reserve Bank of India has advised West Bengal to control its spending on various schemes. Will Lakshmi Bhandar beneficiaries face a significant setback?

The allowance amount for this scheme might be reduced. Is this decision going to be implemented from January 2025?

The Reserve Bank has provided a major update on this matter. Reports indicate that the revenue deficit has been maintained at 0.2% of GDP in the fiscal years 2022-23 and 2023-24.

The RBI has cautioned states to reduce allocations for subsidies while ensuring sufficient funds for development. Everyone is now watching what decision the Mamata Banerjee government will take.

About the Author

Ajay Joseph

With over eight years of journalistic experience, Ajay Joseph Raj. P has been a dedicated member of the Asianet Newsable team, where he serves as the Chief Copy Editor. His expertise spans Business, Career, Stock Market, National, International, and viral/trending topics, with a knack for crafting compelling narratives that connect with diverse audiences. Before joining Asianet Newsable, Ajay honed his skills at OneIndia News and Opoyi English, gaining extensive experience in delivering impactful stories across various beats. Read More...

Mamata Banerjee