Madhya Pradesh State Budget 2016-17 PDF Download – MP Current Affairs

Madhya Pradesh State Budget 2016-17 PDF Download – MP Current Affairs

Madhya Pradesh State Budget 2016-17 PDF Download – MP Current Affairs – In this We are Providing the MP Budget 2016-2017. This Will help in MP Upcoming Exam.

Madhya Pradesh Finance Minister Finance Minister Jayant Malaiya on 26 February 2016 presented the Annual State Budget 2016-17 in the legislative assembly. The finance minister announced a total expenditure of 158713.04 crore rupees for the year 2016-17 and appropriation of 170753.99 crore rupees. The state government announced VAT reduction on number of items like CSD cars, soya milk and dialysis machine, while making battery-operated vehicles tax-free. Tax on battery-operated cars and rickshaws was done away with an aim to check growing population. A revenue surplus of 3509.81 crore rupees was estimated for the year 2016-17.

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Main highlights

  • Fiscal Deficit for the year 2016-17 is estimated to be 24913.64 crore rupees rupees.
  • Targets set under the Madhya Pradesh Fiscal Responsibility and Budget Management Act, 2005 are expected to be met.
  • Total Revenue Receipts for the year 2016-17 are estimated to be 126095.14 crore rupees rupees. Components of the Revenue Receipts are 46500.00 crore rupees as State’s Own Tax Revenue; 43676.36 crore rupees as share in Central Taxes; 11481.63 crore rupees as State’s Own Non Tax Revenue and 24437.15 crore rupees of Central Grants.
  • State’s Own Tax Revenue estimates are 93.92 percent higher as compared to 2015-16.
  • Revenue Expenditure of 122585.33 crore rupees is estimated for the year 2016-17 which is ` 13750.40 crore rupees more than 18834.92 crore rupees for the year 2015-16.
  • Opening balance of (-)34.83 crore rupees is estimated for the year 2016-17. Net transactions during the year are estimated to be (-)118.56 crore rupees. Hence, closing balance at the end of the year is estimated to be (-)153.39 crore rupees.
  • Plan expenditure for the year 2016-17 is estimated to be 74401.69 crore rupees as against 60348.88 crore rupees for the year 2015-16. Thus, an increase of 14052.8 crore rupees is estimated in Plan expenditure.
  • Budget estimates of Tribal sub-plan have increased from 12894.49 crore rupees for the year 2015-16 to 16200.02.
  • Budget estimates of Scheduled caste sub-plan have increased from 9084.96 crore rupees for the year 2015-16 to 11781.53 crore rupees for the year 2016-17.

Fiscal Indicators

  • Fiscal Deficit estimated at 3.49 percent of GSDP.
  • Revenue Surplus estimated at 0.49 percent of GSDP.
  • Interest payments estimated at 8.11 percent of Revenue Receipts. Agriculture and Allied Sectors
  • State has received “Krishi Karman Award” for fourth consecutive year. “Rashtriya Jaivik Krishi Mela” and seminars organised to encourage marketing of bio-agriculture, bio-products.

Few steps initiated in the budget are

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  • Inter-caste marriage promotion scheme – To promote inter-caste marriages monetary incentive was increase by four times. Earlier, couples used to get 50000 rupees, which will now go up to 2 lakh rupees. This scheme aims at eliminating untouchability. The state has a substantial population of Scheduled Castes.
  • ‘e-shakti’ campaign – It aims at training 3 lakh rural women to use Internet
  • The budget also proposes a hefty increase in VAT on plastic products.
  • Usha Kiran Kendra – It will be set to in every district of the state with an aim of empowering women. It will be established on the lines of One Stop Crisis Centers. These centers will provide legal and economic help to victims of domestic violence.
  • Ladli Laxmi Yojana – 903 rupees was earmarked for the scheme, under which more than 21 lakh girls has been benefitted till date

http://www.finance.mp.gov.in/index.htm