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MP Budget 2021: Rs 2.41 lakh crore e-Budget tabled; no tax hike in FY22

The revenue receipts in 2020-21 are expected to fall by more than five per cent due to the impact of the coronavirus pandemic. On the other hand, overall revenue increase in the next fiscal is estimated at 33 per cent, Jagdish Devda said

twitter-logoPTI | March 2, 2021 | Updated 22:00 IST
MP Budget 2021: Rs 2.41 lakh crore e-Budget tabled; no tax hike in FY22
Madhya Pradesh Chief Minister Shivraj Singh Chouhan

Madhya Pradesh Finance Minister Jagdish Devda on Tuesday presented a budget of Rs 2.41 lakh crore for 2021-22 in the Assembly with no additional tax burden.

The revenue receipts in 2020-21 are expected to fall by more than five per cent due to the impact of the coronavirus pandemic. On the other hand, overall revenue increase in the next fiscal is estimated at 33 per cent, he said.

The budget aims at implementation of government schemes in a mission mode for an "Aatmanirbhar (self-reliant) Madhya Pradesh", and effort was made to ensure people's participation to reflect their expectations, Devda said.

"A provision of total appropriation of Rs 2,41,375 crore has been made for FY 2021-22. Total receipts for the next financial year are estimated at Rs 2,15,954 crore against a net expenditure of Rs 2,17,123 crore," Devda said.

The revenue receipts are estimated at Rs 1,64,677 crore, including the state's own tax income of Rs 64,914 crore and Rs 52,247 crore from its share in central taxes, he said.

The expected revenue expenditure is Rs 1,72,971 crore and the proposed capital expenditure is Rs 44,152 crore, the finance minister added.

An amount of Rs 1.12 lakh crore has been allocated for socio-economic development schemes, he said.

As a result of the impact of the coronavirus pandemic, revenue receipts for 2020-21 are estimated to fall 5.05 percent compared to 2019-20, Devda said.

The capital expenditure is estimated to increase by 42.6 per cent in 2021-22, he added.

A 22 per cent increase is estimated in the state's own revenue in 2021-22.

"The budget estimates for tax and non-tax revenue collection for next financial year is 33 per cent higher in comparison to 2020-21. However, there is no proposal of new tax or increase in the existing taxes," the minister said.

The budget makes a provision of Rs 24,911 crore for the scheduled tribe sub-plan and Rs 17,980 for scheduled caste sub-plan.

Rs 5,762 crore has been allocated for providing tap water to households under the Jal Jeevan Mission. A provision of Rs 9,793 crore has been made for the establishment of primary schools.

Funds have also been allocated for constructing 2,441 km of roads and 105 railway over-bridges.

The Public Works Department will get Rs 7,341 crore for developmental works, Devda said.

An amount of Rs 3,200 crore has been allocated under the CM's Farmers' Welfare Scheme under which Rs 4,000 are paid to each eligible farmer annually.

A provision of Rs 4,592 crore has been made under the Atal Krishi Jyoti Yojana and Rs 900 crore for the development of smart cities, the minister said.

A provision of Rs 262 crore has been made for metro train networks in Bhopal and Indore.

The Gross State Domestic Product (GSDP) of Madhya Pradesh is estimated to reach Rs 10 lakh crore in FY 2021-22, Devda said.

Also read: Agriculture stocks climb up to 20% as PM Modi talks about steps taken in Union Budget

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