Constant increase in its own tax revenue has played an important role in unprecedented development and growth of Madhya Pradesh in last nine years, official sources said.
The own tax revenue went up about five times during the period. The State own tax revenue was Rs6,805.10 crore in year 2003-04 which rose to over Rs29,570 cr as per revised estimates for year 2012-13.
According to Budget estimates for year 2013-14, it is likely to further increase to Rs33,381.68 cr.
Madhya Pradesh also witnessed remarkable increase in plan expenditure that led to fast development of infrastructure. This also indicates increase in the wealth with people of the State.
As per the budget estimates for financial year 2013-14, it is likely to go up to Rs37,608.17 cr.
The capital expenditure had grown during the period under report. This facilitated higher Budget provisions for roads, dams, irrigation. In year 2003-04, the capital expenditure was Rs2,678.64 cr which rose by about eighth fold to Rs16,954.25 cr as per revised estimates for year 2012-13.
In a significant achievement, the state government was able to keep the fiscal deficit within the prescribed limit of three per cent due to prudent fiscal management, the sources said.