5-fold increase in own tax revenue in Madhya Pradesh

Bhopal: Increase in own tax revenue has played important in widely-acclaimed growth story of Madhya Pradesh in development sector during the last 10 years. It has increased 5-fold during the last decade. Own tax revenue receipts were to the tune of merely Rs. 6805 crore in year 2003-04, which has increased 5-fold to over Rs. 33 thousand 382 crore in year 2013-14. State’s statutory share in Central tax to the tune of Rs. 23 thousand 694 crore is in addition to it.
Similarly, Madhya Pradesh has registered 6-fold increase in Plan expenditure resulting in rapid growth. It also shows increasing wealth with people of the state. Plan expenditure in Madhya Pradesh was Rs. 5684 crore in year 2003-04, which has increased 6-fold to over Rs. 37 thousand 608 crore in year 2013-14.
Better provisions could be made for various infrastructure development works like construction of roads, dams etc as a result of increase in capital expenditure in the state. It was only Rs. 2883 crore in year 2003-04, which has increased to Rs. 17 thousand 558 crore in year 2013-14.
Performing excellently on yet another parameter of efficient fiscal management, Madhya Pradesh has been presenting surplus budget consecutively since year 2004-05. It shows that the state has used its resources in a better way. Revenue deficit in the state was (-) Rs. 4476 crore in year 2003-04, which is estimated to be (+) Rs. 5215 crore in year 2013-14.
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