Bidis, Cellphones, Mobikes Dearer as Raghavji Spells out 103 Crore Deficit Budget
Presenting his sixth consecutive budget for the state, Madhya Pradesh Finance Minister Raghavji on Friday tabled a Rs 102.96 crore deficit financial plan for the financial year 2009-10.
The deficit, said Raghavji, would happen despite receipts of 46580.48 crore during the current fiscal and pegged the expenditure at Rs 46444.80 crore, resulting in a profit of Rs 135.68 crore.
He said the revenue receipts this year would amount to Rs 34961.03 against a rvenue expenditure of Rs 38262.12 crore and pegged the revenue deficit at Rs 6436.61 crore during the period.
Citing the recent Central budget that said revenue deficits should amount to over four per cent of the gross state domestic product, Raghavji said that the figure for the state this year would be 3.75 per cent.
Following introduction of some new taxes and rationalisation of old taxes, bidis, telephone equipment and cellphones would become costlier and the life-time tax paid for motorcycles in the state is all set to go up.