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MP records 28 per cent growth in tax revenues
Bhopal, May 19: Madhya Pradesh has recorded 28 per cent average growth in its tax revenues in the year 2002-03.
Bhopal, May 19: Madhya Pradesh has recorded 28 per cent average growth in its tax revenues in the year 2002-03.
This enabled the state to not only meet its plan but also increase the initially approved plan size of Rs 4,821 crore for 2002-03 to Rs 5,597 crore, an official release said today.
The state is also able to mop up additional resources in the form of small savings, market borrowings and Nabard loans.
The capital expenditure by the state government has gone up from Rs 1,110.51 crore in 2000-01 to rs 1,470.64 crore in 2001-02 and to rs 2,712.96 crore in 2002-03 (revised estimates - re). It is expected to be around rs 3,037.92 crore in 2003-04, the release said.
Capital expenditure as a percentage of Gross State Domestic Products (GSDP) has improved from 1.25 in 2000-01 to 3.03 in 2002-03 (re).
The state's tax revenues as a ratio of GSDP has been showing a conistant improvement. This ratio was 4.9 in the period 1993 -94 to 1996-97 in 2001-02 it improved to 5.7 in 2002-03 (re) it is estimated to improve to 7 and 7.1 in 2003-04 (re).
The revenue deficit has been showing a steady improvement from 3.16 in 1998-99 to 1.48 in 2001-02 and further to 0.63 in 2003-04 (re). Similarly primary deficit has shown an improvement from 2.53 in 1998-99 to 1.14 in 2003-04 (re). State's non-plan expenditure as a percentage of revenue has shown an improvement from 104 in 1999-2000, to 90 in 2000-01 and further to 78 in 2003-04, the release added.
Bureau Report
The state is also able to mop up additional resources in the form of small savings, market borrowings and Nabard loans.
The capital expenditure by the state government has gone up from Rs 1,110.51 crore in 2000-01 to rs 1,470.64 crore in 2001-02 and to rs 2,712.96 crore in 2002-03 (revised estimates - re). It is expected to be around rs 3,037.92 crore in 2003-04, the release said.
Capital expenditure as a percentage of Gross State Domestic Products (GSDP) has improved from 1.25 in 2000-01 to 3.03 in 2002-03 (re).
The state's tax revenues as a ratio of GSDP has been showing a conistant improvement. This ratio was 4.9 in the period 1993 -94 to 1996-97 in 2001-02 it improved to 5.7 in 2002-03 (re) it is estimated to improve to 7 and 7.1 in 2003-04 (re).
The revenue deficit has been showing a steady improvement from 3.16 in 1998-99 to 1.48 in 2001-02 and further to 0.63 in 2003-04 (re). Similarly primary deficit has shown an improvement from 2.53 in 1998-99 to 1.14 in 2003-04 (re). State's non-plan expenditure as a percentage of revenue has shown an improvement from 104 in 1999-2000, to 90 in 2000-01 and further to 78 in 2003-04, the release added.
Bureau Report