Jayant Malaiya presents MP Budget with a fiscal deficit of Rs. 267802.5 million
Bhopal: Madhya Pradesh Finance Minister Jayant Malaiya today presented in the State Assembly the budget for the financial year 2018-19 with a fiscal deficit of Rs. 267802.5 million.
The fiscal deficit of Rs. 267802.5 million is within the prescribed – 3.25 % limit of the Madhya Pradesh Fiscal Responsibility and Budget Management Act, 2005.
The election year budget, with a Revenue surplus of Rs. 2625.5 million, proposes Appropriation amount of Rs. 20464244 million and total net expenditure of Rs. 1866852. million for the year 2018-19.
Total Revenue Receipts for the year 2018-19 are estimated to be Rs. 1558864.7 million. Components of the Revenue Receipts are as follows:
Rs. 546552.4 million as State’s Own Tax Revenue; Rs. 594899.2 millione as share in Central Taxes; Rs. 109337.8 million as State’s Own Non-Tax Revenue and Rs. 308075.3 million as Grants-in-aid from Central Government.
- State’s Own Tax Revenue estimates are 18 percent higher as compared to 2017-18(RE).
- Revenue Expenditure increased from Rs. 1344967.6 million (2017-18 RE) to Rs. 1556239.2 million for the year 2018-19.
- Capital Outlay of Rs. 310613.2 million is estimated for the year 2018-19 which is 4.24 % higher than Rs. 297980.3 million for the year 2017-18(RE).
- Capital Outlay for the year 2018-19 is 3.76 % of the GSDP.
- Opening balance for the year 2018-19 was Rs. (-) 809.0 million. Net transactions during the year are estimated to be Rs. 13.43 million. Hence, closing balance at the end of the year is estimated to be Rs. (-) 674.7 million.
- Budget estimates for Scheduled Tribe sub-Scheme is Rs. 274745.7 million for the year 2018-19.
- Budget estimates for Scheduled Caste sub-Scheme is Rs. 187347.1 million for the year 2018-19.
Leaning heavily in the interest of the agriculture sector and farmers, the Budget proposes:
- Provision of Rs. 374980 million for ‘Krishi’ Budget.
- Provision of Rs. 36500 million for ”Mukhya Mantri Krishak Samriddhi Yojana’.
- Provision of Rs. 20000 million for “Prime Minister Crop Insurance Scheme”
- Provision of Rs. 10000 million for ‘Mukhya Mantri Bhavantar Yojana’.
- Provision of Rs. 4180 million for Rashtriya Krishi Vikas Yojana.
- Provision of Rs. 3820 million for National Food Security Mission.
- Provision of Rs. 1230 million for Rashtriya Krishi Vistar Yojana.
- Provision of Rs. 650 million for Sub Mission on Agriculture extension (ATMA).
- Provision of Rs. 580 million for Sub Mission on Seed and Planning Material.
- Provision of Rs. 510 million for subsidy on Tractor and agricultural equipment.
Click here for Salient features of the MP budget estimates for 2018-19