No new tax proposed in MP Budget
03-Jul-2024 05:03 PM 7381
Bhopal, July 3 (Reporter) Madhya Pradesh Finance Minister Jagdish Devda on Wednesday did not propose any new tax while presenting the first budget of the Mohan Yadav government for 2024-25 that focuses on social-economic welfare, job creation and expansion of health, road, irrigation and electricity facilities. In the Budget, the amount of appropriation is proposed to be more than Rs 3,65,000 crore, about 16 percent more than the previous financial year. In his Budget speech of about one and a half hours, Devda clarified that no provision of a new tax has been made by the state government. The Finance Minister said that the government is also working with the goal of doubling the size of the Budget during the next five years. He said the present Budget has been prepared to increase capital investment, expansion of road, irrigation and electricity facilities, quality health facilities, investment invitation for employment generation and development of infrastructure facilities. Referring to the amount of appropriation of Rs 3,65,000 crore, he said that out of this, a provision of Rs 2,61,644 is proposed for revenue expenditure and a provision of Rs 64,738 crore is proposed for capital expenditure. An overall provision of Rs 1,74,376 crore has been made for the current financial year for the schemes of socio-economic upliftment in the state, he said. The Finance Minister said that in 2024-25, the state's own tax revenue is likely to increase by 18 percent as compared to the budget estimate of the year 2023-24. Similarly, capital expenditure is also likely to increase by about 15 percent. He said that in the Budget, there is a provision of Rs 40,804 crore for Scheduled Tribes (Sub Plan) and Rs 27,900 crore for Scheduled Castes (Sub Plan)...////...
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