A Rs 128-crore deficit budget for 2010-11 was presented in Madhya Pradesh Assembly on Thursday by Finance Minister Raghavji.
"Although receipts during 2010-11 would be Rs 51,570 crore, the expected expenditure would be Rs 51,507 crore which means a surplus of Rs 63 crore, yet the year will end with a deficit of Rs 128 crore," the Minister said in his budget speech running into 32 pages.
Highlighting the progress made by Madhya Pradesh during the BJP rule since 2003, he said the per person income, which was Rs 12,697 in 2002-03, rose to Rs 21,648 in 2008-09.
Raghavji said that while revenue losses in 2001-02 were Rs 3,167 crore, they were expected to show a surplus of Rs 1,698 crore in 2009-10.
He said during 2010-11, revenue receipts were expected to be Rs 43,443 crore. This included Rs 18,670 crore from state taxes, Rs 11,047 crore as share of Madhya Pradesh in Central taxes and an assistance of Rs 9,403 crore from the Union Government.
He said while revenue receipts were expected to be Rs 43,443 crore, revenue expenditure was likely to be Rs 41,863 crore, translating into a revenue surplus of a Rs 1,580 crore.
Fiscal deficit for 2010-11 was expected to be Rs 8,003 crore which was 4 per cent of the Gross Domestic Product and well within the guidelines given by the Centre, he said.