MP govt created revenue surplus at close of 2005-06

Bhopal, Nov 28 (UNI) Madhya Pradesh Finance Minister Raghavji today claimed that a revenue surplus was created at the close of 2005-06 fiscal after a gap of 12 years.

''For ensuring transparency in fiscal management, the Fiscal Responsibility and Budget Management Act was enforced in January 2006. Under this, a statement on income-expenditure trends of the first six months was presented in the Assembly and targets were achieved,'' he said in an official release coinciding with Chief Minister Shivraj Singh Chouhan completing a year in office.

A 33.44 per cent increase was recorded in capital expenditure, which was Rs 4,950.98 crore during 2004-05. The government doubled credit flow in the farm sector over the past two years as farm credit was Rs 3,334 crore during 2003-04. The credit-deposit ratio of public sector commercial banks has crossed 60 per cent.

''Interest rate on cooperative loans for peasants was reduced to 7 per cent and Rs 51.93 crore arranged for interest subsidy.

Under a Tribal Sub-Plan, a provision of Rs 1,963.40 crore was made for 2006-07, which is Rs 190.21 crore higher in comparison to the revised estimate of 2005-06. This is 21.65 per cent of the total plan outlay. Similarly, a provision of Rs 1,446.89 crore was made under the Special Component Plan,'' the minister said.

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