New Delhi, June 22 -- West Bengal Finance Minister Swapandas Dasgupta presented his first budget on Monday, placing the state's debt burden at the centre of the fiscal plan while earmarking the highest allocation for Panchayats and Rural Development, followed by Education. The Minister also announced the creation of one lakh new jobs, a Dearness allowance hike for state employees, and additional support for farmers.

Dasgupta began his budget speech by underlining the liability inherited from the previous government. "West Bengal government has inherited debt of Rs 8.16 lakh crore. This inherited debt limits our fiscal space and makes prudent financial management non-negotiable," the minister told the assembly. He said the administration ...