Madhya Pradesh posts 13 percent increase in tax revenue

May 19th, 2008 - 9:48 pm ICT by admin  

Bhopal, May 19 (IANS) Madhya Pradesh has registered a 13 percent increase in tax revenue during the 2008 fiscal, the state finance minister said here Monday. “The total tax collection during financial year 2007-08 was Rs.111.83 billion, which represents a 13 percent increase over the previous year,” Madhya Pradesh Finance Minister Raghavji said in a statement.

“In the financial year 2002-03, the receipts were 60.805 billion, compared to which the receipts of 2007-08 are near double,” he said.

Raghavji said the performance in respect of capital plan expenditure has also improved during the period under review. It stood at Rs.50.68 billion, representing a 17 percent increase over the last fiscal.

The finance minister said that while plan expenditure has gone up, the non-plan expenditure has gone down over the last four years.

“This goes to show heavy increase in the expenditure on development works,” he said.

The plan expenditure during fiscal 2007-08 was Rs.130.71 billion, which is 30 percent more than the preceding year. The plan expenditure has exceeded the budget estimates of 2007-08, he added.

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