Reasons for decline in economic condition of West Bengal?
Reasons for decline in economic condition of West Bengal?There are many reasons for the decline in the economic condition of West bengal, among which deadlock in policies, industrial erosion, political instability, and exodus of skilled talent are considered to be the main reasons. All these factors have affected the development of the state. There is difficulty in implementing the policies necessary for development in West Bengal. Progress has stopped due to delay and controversy in government decisions. This instability has made industries reluctant to invest. Apart from this, the pace of industrialization in the state has slowed down. Many old industries have closed down or shifted to other states. This has not only reduced employment, but has also had a negative impact on the local economy.How political instability became a major obstacle to development?Political instability has been going on in West bengal for a long time, which is a major obstacle to development. Electoral disputes and political conflicts have reduced the confidence of investors. When the political environment is not stable, industrialists hesitate to invest.Also know the condition of these big statesAccording to the report 'Relative Economic Performance of indian States: 1960-61 to 2023-24', maharashtra remains the largest contributor to India's Gross Domestic Product (GDP) with 13.3%. This means that maharashtra has the highest share in the total economic activities of the country. However, the state's contribution to GDP has decreased by more than 15% compared to the last few years, which is a matter of concern.In the year 1960-61, andhra pradesh was a contributor of 7.7 percent to India's Gross Domestic Product (GDP), but in 2024 it has increased to 9.7 percent. Apart from this, assam was a contributor of 2.6 percent in the year 1960-61, while in the year 2024 this state has contributed 1.9 percent to India's total GDP. Similarly, bihar also contributed 7.8% from 1960-61 which has come down to 4.3 percent in the year 2024.If we talk about Uttar Pradesh, this state also contributed 14.4 percent to India's total GDP in the year 1960-61 which has come down to 9.5 percent by the year 2024. Whereas in delhi this percentage has increased from 1.4 percent to 3.6.