Kolkata, Apr 4 (PTI) A city-based chamber of commerce today hailed the 16-per cent increase in West Bengal’s tax revenue for the 2017-18 fiscal.

“Despite the twin challenges of demonetisation and implementation of GST, the West Bengal government has steered the state well in these troubled times to record a massive growth to Rs 52,971 crore for the fiscal 2017-18, a rise of 16 per cent over previous fiscal,” Bharat Chamber of Commerce (BCC) president Sitaram Sharma said in a statement.

BCC, however, expressed concern over the decline in the share of agriculture to 19 per cent of the GSDP. The services sector contributed 56 per cent to the GSDP, followed by industry at 25 per cent.

The state’s per capita income at constant prices has grown from Rs 57,584 in 2015-16 to Rs 67,703 in 2017-18, he said.

The rise in the total capital expenditure of 8.5 per cent in 2017-18 is also laudable, Sharma added.

This is published unedited from the PTI feed.