Chief Minister Suvendu Adhikari on Monday alleged that "fiscal mismanagement" by the previous dispensation had turned West Bengal "practically bankrupt", and said the state would need at least a year to get out of financial distress.
Interacting with reporters at the state secretariat Nabanna after disbursing enhanced old-age pensions to beneficiaries, he said that with a BJP government in place now, the state has joined all Central schemes.
"Funds are flowing in, and more will come," he said.
The old-age pension has been increased from Rs 1,000 per month to Rs 1,500 for each beneficiary.
"West Bengal is not in a good financial condition owing to fiscal mismanagement by previous governments. Revenue loss, theft, and failure to join Central schemes have turned the state practically bankrupt," Adhikari said.
"We are still in a bad shape and need at least one year to come out of the financial distress," he said.
Highlighting his government's financial prudence, the chief minister asserted that the state exchequer will get nearly 18 per cent more revenue this financial year compared to the previous fiscal.
"If we are successful in stopping revenue loss, then the state's earnings will increase further," he added.