Editing West Bengal (section)

== Economy ==
{{Main|Economy of West Bengal}}
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| colspan="2"  style="background:#c2d6e5; text-align:center;"| '''Net State Domestic Product at Factor Cost at Current Prices (2004–05 Base)'''<ref>{{cite web |url=http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13592 |title=Net state domestic product at factor cost—state-wise (at current prices) |date=15 September 2011 |access-date = 7 February 2012 |work=Handbook of statistics on Indian economy |publisher=[[Reserve Bank of India]] |url-status = dead |archive-url = https://web.archive.org/web/20120309001542/http://rbi.org.in/scripts/PublicationsView.aspx?id=13592 |archive-date = 9 March 2012}}</ref><br />
(figures in [[crore]]s of [[Indian rupee]]s)
|-
! Year || Net State Domestic Product
|-
| 2004–2005 || 190,073
|-
| 2005–2006 || 209,642
|-
| 2006–2007 || 238,625
|-
| 2007–2008|| 272,166
|-
| 2008–2009 || 309,799
|-
| 2009–2010 || 366,318
|}
[[File:OberoiGrandHotelKolkata gobeirne.jpg|alt=The Grand Hotel in Kolkata|left|thumb|The [[Grand Hotel (Kolkata)|Grand Hotel]] in Kolkata. Tourism, especially from Bangladesh, is an important part of West Bengal's economy.]]
{{As of|2015}}, West Bengal has the sixth-highest [[GSDP]] in India. GSDP at current prices (base 2004–2005) has increased from Rs 2,086.56&nbsp;billion in 2004–05 to Rs 8,00,868 crores in 2014–2015,<ref>{{cite web |url=http://niti.gov.in/content/gsdp-current-prices-2004-05-series-2004-05-2014-15 |title=GSDP at current prices, 2004–05 series (2004–05 to 2014–15) |url-status = live |archive-url = https://web.archive.org/web/20160718072000/http://niti.gov.in/content/gsdp-current-prices-2004-05-series-2004-05-2014-15 |archive-date = 18 July 2016}}</ref> reaching Rs 10,21,000 crores in 2017–18.<ref>{{cite news |url=https://timesofindia.indiatimes.com/city/kolkata/centre-accepts-bengal-gdp-has-crossed-rs-10-lakh-crore/articleshow/65252359.cms |title=Centre accepts Bengal GDP has crossed Rs 10L cr |date=3 August 2018 |work=[[The Times of India]]|access-date=15 October 2018|archive-url=https://web.archive.org/web/20180806041003/https://timesofindia.indiatimes.com/city/kolkata/centre-accepts-bengal-gdp-has-crossed-rs-10-lakh-crore/articleshow/65252359.cms|archive-date=6 August 2018|url-status=live}}</ref> GSDP per cent growth at current prices varied from a low of 10.3% in 2010–2011 to a high of 17.11% in 2013–2014. The growth rate was 13.35% in 2014–2015.<ref name="niti.gov.in">{{cite web |url=http://niti.gov.in/content/gsdp-current-prices-percent-growth-2004-05-2014-15 |title=GSDP at current prices, Percent growth (2004–05 to 2014–15) |url-status = live |archive-url = https://web.archive.org/web/20160717122724/http://niti.gov.in/content/gsdp-current-prices-percent-growth-2004-05-2014-15 |archive-date = 17 July 2016}}</ref> The state's per capita income has lagged the all India average for over two decades. As of 2014–2015, per capita NSDP at current prices was Rs{{nbsp}}78,903.<ref name="niti.gov.in" /> Per-capita NSDP growth rate at current prices varied from 9.4% in 2010–2011 to a high of 16.15% in 2013–2014. The growth rate was 12.62% in 2014–2015.<ref>{{cite web |url=http://niti.gov.in/content/capita-nsdp-current-prices-percent-growth-2004-05-2014-15 |title=Per Capita NSDP at current prices, Percent growth (2004–05 to 2014–15) – NITI Aayog |work=niti.gov.in |access-date = 25 July 2016 |url-status = live |archive-url = https://web.archive.org/web/20160716175641/http://niti.gov.in/content/capita-nsdp-current-prices-percent-growth-2004-05-2014-15 |archive-date = 16 July 2016}}</ref>

In 2015–2016, the percentage share of Gross Value Added (GVA) at factor cost by economic activity at the constant price (the base year 2011–2012) was Agriculture-Forestry and Fishery—4.84%, Industry 18.51% and Services 66.65%. It has been observed that there has been a slow but steady decline in the percentage share of industry and agriculture over the years.<ref>{{cite web |url=http://www.dospiwb.org.in/downloads/eco_review_1516.pdf |title=Economic Review 2015–16 |url-status = usurped |archive-url = https://web.archive.org/web/20160815122427/http://www.dospiwb.org.in/downloads/eco_review_1516.pdf |archive-date = 15 August 2016}}</ref> Agriculture is the leading economic sector in West Bengal. Rice is the state's principal food crop. Rice, potato, [[jute]], sugarcane and wheat are the state's top five crops.<ref name=ibef2011 />{{rp|14}} Tea is produced commercially in northern districts; the region is well known for [[Darjeeling tea|Darjeeling]] and other high-quality teas.<ref name=ibef2011 />{{rp|14}} State industries are localised in the Kolkata region, the mineral-rich western highlands, and the [[Haldia Port]] region.<ref name=wbidcindinf>{{cite web |url=http://www.wbidc.com/about_wb/industrial_infrastructure.htm |title=Industrial infrastructure |publisher=West Bengal Industrial Development Corporation |access-date = 5 March 2012 |url-status = dead |archive-url = https://web.archive.org/web/20120405152957/http://www.wbidc.com/about_wb/industrial_infrastructure.htm |archive-date = 5 April 2012}}</ref> The Durgapur-Asansol colliery belt is home to a number of steel plants.<ref name=wbidcindinf /> Important manufacturing industries include: engineering products, electronics, electrical equipment, cables, steel, leather, textiles, jewellery, frigates, automobiles, railway coaches and wagons. The Durgapur centre has established several industries in the areas of tea, sugar, [[chemical]]s and [[fertiliser]]s. Natural resources like tea and jute in nearby areas have made West Bengal a major centre for the jute and tea industries.<ref>{{cite web |url=https://www.ibef.org/states/west-bengal.aspx |title=About West Bengal State: Tourism, Industries, Agriculture, Economy & Geography |website=IBEF|access-date=4 January 2018|url-status=live|archive-url=https://web.archive.org/web/20161209223506/http://www.ibef.org/states/west-bengal.aspx|archive-date=9 December 2016}}</ref>

Years after independence, West Bengal is dependent on the central government for help in meeting its demands for food; food production remained stagnant, and the [[Indian green revolution]] bypassed the state. However, there has been a significant increase in food production since the 1980s and the state now has a surplus of grains.<ref name="hdrchap1">{{harvnb|West Bengal Human Development Report|2004|loc=Ch. 1: Introduction and Human Development Indices for West Bengal|pp=4–6}}</ref> The state's share of total industrial output in India was 9.8% in 1980–1981, declining to 5% by 1997–1998. In contrast, the service sector has grown at a rate higher than the national rate.<ref name=hdrchap1 /> The state's total financial debt stood at {{INRConvert|1918350|m}} as of 2011.<ref>{{cite news |url=https://m.economictimes.com/default_pwa.cms?article=10453111 |title=Mamata seeks debt restructuring plan for West Bengal |newspaper=[[The Economic Times]] |location=New Delhi |date=22 October 2011 |access-date = 4 March 2012}}{{dead link|date=April 2024|bot=medic}}{{cbignore|bot=medic}}</ref>

[[File:PaddyandjuteBengal.JPG|thumb|left|Freshly sown saplings of rice in a [[rice|paddy]]; in the background are stacks of [[jute]] sticks.|alt=Brown jute sticks stacked in groups with small green saplings of rice in the foreground]]
In the period 2004–2010, the average [[gross domestic product|gross state domestic product]] (GSDP) growth rate was 13.9% (calculated in Indian rupee terms) lower than 15.5%, the average for all states of the country.<ref name=ibef2011>{{cite web |url=http://www.ibef.org/download/West_Bengal_271211.pdf |title=West Bengal |date=November 2011 |publisher=[[India Brand Equity Foundation]] |access-date = 6 February 2012 |url-status = live |archive-url = https://web.archive.org/web/20120517130353/http://www.ibef.org/download/West_Bengal_271211.pdf |archive-date = 17 May 2012}}</ref>{{rp|4}}

The economy of West Bengal has witnessed many surprising changes in direction. The agricultural sector in particular rose to 8.33% in 2010–11 before tumbling to −4.01% in 2012–13.<ref>{{cite news |url=https://www.telegraphindia.com/1151016/jsp/opinion/story_48178.jsp |title=Figures matter |work=[[The Telegraph (Kolkata)|The Telegraph]]|access-date=3 February 2018|archive-url=https://web.archive.org/web/20180203124403/https://www.telegraphindia.com/1151016/jsp/opinion/story_48178.jsp|archive-date=3 February 2018|url-status=dead}}</ref> Many major industries such as the Uttarpara [[Hindustan Motors]] car manufacturing unit, the jute industry, and the Haldia Petrochemicals unit experienced shutdowns in 2014. In the same year, plans for a 300&nbsp;billion Jindal Steel project was mothballed. The tea industry of West Bengal has also witnessed shutdowns for financial and political reasons.<ref>{{cite news |url=http://www.thehindu.com/news/cities/kolkata/a-year-of-shutdowns-in-bengals-industry/article6737583.ece |title=A year of shutdowns in Bengal's industry |last=Dutta |first=Indrani |date=30 December 2014 |work=[[The Hindu]] |access-date=3 February 2018 |language=en-IN |issn=0971-751X |archive-date=8 January 2020 |archive-url=https://web.archive.org/web/20200108113052/https://www.thehindu.com/news/cities/kolkata/a-year-of-shutdowns-in-bengals-industry/article6737583.ece |url-status=live}}</ref> The tourism industry of West Bengal was negatively impacted in 2017 because of the [[Gorkhaland]] agitation.<ref>{{cite news |url=https://economictimes.indiatimes.com/news/politics-and-nation/darjeeling-fears-continuing-gorkhaland-agitation-to-hurt-festive-tourism-business/articleshow/59322627.cms |title=Darjeeling fears continuing Gorkhaland agitation to hurt festive tourism business |last=Sarkar |first=Debasis |date=26 June 2017 |work=[[The Economic Times]]|access-date=3 February 2018|archive-url=https://web.archive.org/web/20180203125752/https://economictimes.indiatimes.com/news/politics-and-nation/darjeeling-fears-continuing-gorkhaland-agitation-to-hurt-festive-tourism-business/articleshow/59322627.cms|archive-date=3 February 2018|url-status=live}}</ref>

However, over the years due to effective changes in the stance towards industrialisation, ease of doing business has improved in West Bengal.<ref>{{cite news |url=http://www.thehindu.com/business/ease-of-doing-business-improves-in-west-bengal/article23281313.ece |title='Ease of doing business improves in West Bengal |newspaper=[[The Hindu]] |date=17 March 2018 |access-date=18 March 2018 |archive-date=2 January 2020 |archive-url=https://web.archive.org/web/20200102111444/https://www.thehindu.com/business/ease-of-doing-business-improves-in-west-bengal/article23281313.ece |url-status=live}}</ref><ref>{{cite news |url=http://www.business-standard.com/article/pti-stories/business-environment-satisfactory-in-west-bengal-survey-118031700564_1.html |title=Business environment satisfactory in West Bengal: Survey |newspaper=[[Business Standard India]] |date=17 March 2018 |agency=Press Trust of India|access-date=18 March 2018|archive-url=https://web.archive.org/web/20180318120524/http://www.business-standard.com/article/pti-stories/business-environment-satisfactory-in-west-bengal-survey-118031700564_1.html|archive-date=18 March 2018|url-status=live}}</ref><ref>{{cite web |url=http://www.financialexpress.com/industry/west-bengal-bags-top-spot-in-ease-of-doing-business-heres-the-full-ranking-list/1101880/ |website=The Financial Express |title=West Bengal bags top spot in Ease of Doing Business; Here's the full ranking list |date=17 March 2018|access-date=18 March 2018|archive-url=https://web.archive.org/web/20180318120559/http://www.financialexpress.com/industry/west-bengal-bags-top-spot-in-ease-of-doing-business-heres-the-full-ranking-list/1101880/|archive-date=18 March 2018|url-status=live}}</ref> Steps are being taken to remedy this situation by promoting West Bengal as an investment destination. [[Kolkata Leather Complex|A leather complex]] has been built in Kolkata. Smart cities are being planned close to Kolkata, and major roadway projects are in the offing to revive the economy.<ref>{{cite web |url=https://www.ibef.org/states/west-bengal-presentation |title=Industrial Development in West Bengal, GSDP of West Bengal |website=IBEF|access-date=3 February 2018|archive-url=https://web.archive.org/web/20180901113112/https://www.ibef.org/states/west-bengal-presentation|archive-date=1 September 2018|url-status=live}}</ref> West Bengal has been able to attract 2% of the [[foreign direct investment]] in the last decade.<ref>{{cite news |url=http://www.economist.com/node/21542446 |url-access=subscription |date=7 January 2012 |title=The city that got left behind |newspaper=[[The Economist]] |language=en|access-date=31 January 2018|archive-url=https://web.archive.org/web/20180201020058/http://www.economist.com/node/21542446|archive-date=1 February 2018|url-status=live}}</ref>