Rs. 16745 crore deficit Budget for Madhya Pradesh
The Budget proposes total expenditure of Rs. 1,31,199.06 crore for the year 2015-16 and appropriation of Rs.1,42,094 crore with Revenue surplus of Rs. 5,587.97 crore for the year 2015-16.
Presenting the budget, malaiya said that the state government hopes to meet the targets set under the Madhya Pradesh Fiscal Responsibility and Budget Management Act, 2005. The total Revenue Receipts for the year 2015-16 are estimated to be Rs. 1,14,422.89 crore. Components of the Revenue Receipts are Rs. 43,447.69 crore as State’s Own Tax Revenue; Rs. 30,449.65 crore as share in Central Taxes; Rs. 10,124.28 crore as State’s Own Non-Tax Revenue and Rs. 30,401.27 crore of Central Grants. State’s Own Tax Revenue estimates are 11.43 percent higher as compared to 2014-15. Revenue Expenditure of Rs. 1,08,834.92 crore is estimated for the year 2015-16 which is Rs.9,821.11 crore more than Rs. 99,013.81 crore for the year 2014-15. The Minister told the Assembly that the Opening balance of Rs. (-) 129.32 crore is estimated for the year 2015-16. Net transactions during the year are estimated to be Rs. (-)383.79 crore. Hence, closing balance at the end of the year is estimated to be Rs. (-)513.11 crore.
The Finance Minister told the legislators that Plan expenditure for the year 2015-16 is estimated to be Rs. 60,348.88 crore as against Rs. 54,290.15 crore for the year 2014-15.Thus, an increase of Rs. 6,058.73 is estimated in Plan expenditure. Budget estimates of Tribal sub-plan have increased from Rs. 11,749.67 crore for the year 2014-15 to Rs. 12,688.58, Malaiya said adding Budget estimates of Scheduled caste sub-plan have increased from Rs. 7,903.80 crore for the year 2014-15 to ` 9,064.41 crore for the year 2015-16.
The Budget of 2015-16 is inspired by the aim to realise ‘Make in Madhya Pradesh’ by increasing employment opportunities for youth of the state and by increasing production capacities, Malaiya announced.
Stamps and Registration
• Stamp duty on sale and lease documents executed by M.P Housing Board, Development Authorities, State Co-operative Housing
Federation and urban bodies for LIG category shall be exempt from stamp duty. Such exemption is currently being given only on EWS
• Registration fees payable on leases of residential property constructed under BSUP and IHSDP program for urban poor, is being reduced
to only rupees 1,000/-.
Stamp Duty Enhancement
1. Stamp duty of rupees 10,000/- on license document for revolver and pistol and rupees 5,000/- on renewal document. Rupees 2,000/- on
license document for other weapons and rupees 1,000/- on renewal document shall be levied.
2. The upper limit for stamp duty on value of transferred plant, machinery and other movable properties as going concern of industrial units
is enhanced to rupees 25 crores from existing 10 crores.
3. Stamp duty shall be imposed as per that on lease documents, on leave and licenses or conducting licenses of immovable property.
4. Stamp duty on sale certificate shall be levied on amount of purchase money or market value of property, whichever is higher.
Stamp duty shall be levied on the amount secured in work contracts, as per the rate on bank guarantees i.e. 0.25 percent with a ceiling of
Commercial Tax Department
• Power driven agricultural equipments Laser land leveler, Seed cum fertilizer drill, Reaper cum binder and straw
reaper, Rake and shredder exempted.
• Shoes/ Chappals and their straps MRP up to Rs. 500 (earlier Rs. 250) exempted.
• Bicycles, tricycles, cycle rickshaws and parts (including tyres and tubes) and accessories thereof exempted.
• Exercise books, graph books, drawing books and laboratory books exempted.
• Rate reduced from 13% to 5% – baby diaper, hydraulic trolley, steam, high voltage isolator, battery operated car/
rickshaw, bio fuel based smokeless stove, accessories of tractor, gas geyser/ stove, induction stove, dental filling
material, educational science kit, album (photo and stamp), audio tape recorder and audio cassette, school bag,
bangles of ivory, carbon paper, electronic toys, ladies hand bag, purse and vanity bag, locks and keys, soya milk
powder, razor and razor blades, shoe polish and cream, aluminum composite panel, nitrogen gas, liquid nitrogen
helium & argon, brahmi, kalaunji oil etc.
• Vat on all kinds of pan masala and gutka (without tobacco) increased from 13% to 27%.
• De-oiled cake including all kinds of soyameal/ cotton seed oil cake / mustard oil cake / makka khali included in 1% tax
• Goods mentioned in schedule II of MP Vat Act, 2002 – rate of vat 13% increased to 14%.
• Vat on sand, gitti and flooring stone increased – sand, gitti from Rs. 20 to 35 per cubic meter, flooring stone Rs. 1/ 50
paise/ 25 paise to Rs. 2.50 / Rs. 1.50 / 75 paise.
• VAT on goods used in manufacturing of tax free goods and goods which are stock transferred increased from 4% to
• CST concessions given on brass, copper, kansa, aluminum sheet, circle, leaf spring, copper wire rod, rod, wire bar,
cathode and coin blanks extended for the year 2015-16.
• Entry tax concessions given for purchase of raw material by handloom cloth manufacturer, Khadi Gramodyog Units,
Pathya Pustak Nigam, newsprint for publication of newspaper, iron & steel and leather for manufacture, crude edible
oil for refining, oilseed by small scale industries having annual purchases not more than 1 crore, bidi, plastic water
storage tank, timber, clinker, unprocessed cloth manufactured on powerlooms, tea extended for the year 2015-16.
• Natural gas including CNG brought from outside states for consumption/ use – entry tax levied at the enhanced rate
• Non AC cinema halls/ AC cinema halls in municipal area, established prior to 1.4.2006 – exemption limit raised from
Rs. 50 to Rs. 100. Exemption available in respect of singlex cinema halls only.
• Sports activities organized by non-commercial sports clubs for regular members exempted.
• Entertainment tax concession given to MP State Tourism Development Corporation Ltd. In respect of “Sound and
Light” show in a protected archaeological monument and “Pedal Boat operated Water Sports” extended for the year
• Professional tax exemptions given to physically handicapped persons upto 31.3.2015 – extended upto the year 2019-
• Constitution of MP Traders Welfare Board to give economic assistance not only on death of Rs. 1 Lac, on disability
Rs. 50000 or Rs. 25000, but also for treatment / education of children etc.
• Reward Scheme for informers / employees.