Calcutta, May 19: "Good question." ...The twinkle in the eyes of finance minister Amit Mitra could not be missed in the Assembly today when party colleague Nirmal Ghosh asked a question to the US-educated economist on Bengal's debt burden. Mitra congratulated the MLA for the "good question".

The debt burden on the Bengal government - described by the Trinamul regime as "a legacy of the 34 years of Left rule" - was the most talked about topic before the 2011 Assembly polls. Trinamul had built its campaign around the "mismanagement" by the Left government that created the financial stress.

Four years have passed since the change of guard but the "fiscal mess left behind by the Left" still remains a tool for Trinamul to attack the rival.

Betraying his eagerness to launch a fresh salvo at the Left, Mitra today rose up enthusiastically to respond to Ghosh's query. The body language of the finance minister made it clear that he was elated to get the half volley.

Then came his detailed reply, accompanied by his trademark grin.

Ghosh: "What is the total amount spent by the state government towards principal and interest against loans taken by the previous government?"

Mitra: "Till May 31, 2011, the amount of debt passed on by the previous government was Rs 1,91,835.62 crore. Till March 31, 2015, the state government had to garner Rs 76,346.78 crore as interest and principal."

Ghosh: "As a result, what is the shape of the damage to the state's financial condition?"

Mitra: "This is a good question. As a result, the state has fallen into a dangerous debt trap, which has taken the shape of a vicious cycle. In order to pay off this huge debt, the state has had to take a loan of Rs 82,964.50 crore, of which Rs 76,346.78 crore itself was used to pay off the loan of the previous government. Had this not been done, the amount could have been used for the development of the state, which would have benefited the people of Bengal."

Reply over, both Mitra and Ghosh seemed content and took their seats.

A huge debt burden can give sleepless nights to a finance minister as he has to manage the salaries of government employees but Mitra seemed pleased with the question.

"A grave matter like debt burden makes the finance minister happy as he gets a chance to pass the buck.... So, you know their only interest is to use it to score political points...," said Gouranga Chatterjee, the CPM MLA from Pandaveswar.

Ghosh, whose questions on matters related to economics surprised even some of his party colleagues, later said his objective was part of a "political strategy".

"This has been our political strategy. Today, I got it (debt burden) recorded in the Assembly for the people of the state to know," said Ghosh, the Panihati MLA and a former banker.

As politics played itself out on the floor of the House, economics took a back seat. The finance minister did not explain how the debt burden had kept swelling despite his claims of phenomenal growth in revenue.

Congress MLA Manoj Chakraborty found a trend in the manner in which Mitra responded to the question from his party colleague.

"The finance minister's eloquence is on full display when he talks about the debt burden passed on by the Left. But he slips into silence when asked about the actual investment the state has received or what the government has done to improve the fiscal situation," Chakraborty said.

Chakraborty's claim was bolstered during question hour when Congress MLA Asit Mitra asked the finance minister about IT parks.

After industries minister Mitra gave the reply, the CPM's Anisur Rahman sought permission for a supplementary question on the status of the proposed development centre of Infosys. Congress MLA Chakraborty raised the same question.

Minister Mitra said it was not related to the main question.

The proposed project of Infosys is stuck for years as the Mamata Banerjee government has declined to give SEZ status to it. As the Infosys project can boost the IT industry and create jobs, the importance of the question on the status of the project cannot be undermined, Chakraborty said.

"But it must have been a bad question as he (minister Mitra) did not answer it," Chakraborty said.

During the winter session in November 2014, the CPM's Surjya Kanta Mishra had asked 15 questions to the chief minister, none of which was answered.

Congress veteran Manas Bhuniya said questions by senior MLAs were not being given importance.

 

BAD QUESTIONS

Some questions not put to Amit Mitra

Isn’t the finance minister compounding the problem by adding to the debt burden? 

Has Mitra thought about any measure to reduce the debt burden other than lobbying with the Centre for 
relief?  

How long will he continue blaming the past government for its fiscal sins? lIf the state’s revenue receipts are in excess of Rs 1 lakh crore, why does it need to borrow to meet its repayment obligation? (Outgo on account of past debt ranges between 

Rs 21,000 crore and Rs 28,000 crore a year)