The Rise and Fall of Bengal | From Richest in 1960s to among the poorest Today

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West Bengal, once a beacon of industrial prowess and economic strength in India, has experienced a dramatic transformation over the past several decades. In the 1960s, the state was a thriving hub of industry and commerce, boasting a per capita income significantly above the national average. However, today, West Bengal faces economic challenges that have seen its share of India’s GDP shrink considerably. This article delves into the factors that contributed to the rise and subsequent decline of Bengal’s economy, supported by relevant statistics and historical context.
While West Bengal’s economy declined, other states experienced significant growth. For instance, Tamil Nadu’s share of GDP rebounded from 7.1% in the 1990s to 8.9% in 2023-241. Similarly, Odisha’s per capita income surged from 54.3% of the national average in 1990-91 to 88.5% in 2023-24, surpassing West Bengal’s per capita income of 83.7%.
Today, West Bengal faces significant economic challenges. The state’s share of India’s GDP has fallen to 5.6%, and its per capita income is below the national average1. Industries continue to leave the state, seeking more favorable business environments elsewhere. The state’s economic policies and infrastructure remain key areas of concern.
The rise and fall of Bengal’s economy is a complex story of lost opportunities and shifting fortunes. From being one of India’s most prosperous states in the 1960s, West Bengal has experienced a significant economic decline. Political instability, labor unrest, outdated industrial practices, poor infrastructure, and restrictive economic policies have all contributed to this decline. Reviving West Bengal’s economy requires a comprehensive approach that addresses the key challenges and leverages the state’s strengths. By modernizing infrastructure, improving the business environment, fostering agricultural growth, promoting tourism and services, and strengthening governance, West Bengal can attract investment, create jobs, and achieve sustainable economic growth. With the right policies and structural changes, the state can restore its former glory and emerge as a leading economic powerhouse in India.
Source:
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www.indiatoday.in
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www.indianexpress.com
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