Madhya Pradesh Finance Minister Raghavji on Friday presented Rs 102.96 crore deficit budget for the financial year 2009-10.
Presenting the budget for the sixth time in a row, Raghavji said the current financial year was expected to end with a deficit of Rs 102.96 crore.
Raghavji said this would happen despite the fact that receipts during the year would be Rs 46580.48 crore and expenditure would be Rs 46444.80 crore, resulting in a profit of Rs 135.68 crore.
On revenue deficit, he said this was expected to be Rs 6436.61 crore during 2009-10 and revenue expenditure would be Rs 38262.12 crore while revenue receipts would be Rs 34961.03 crore.
The finance minister said the Centre in this year's budget had pointed out that the revenue deficit should be a maximum of four per cent of the gross state domestic production and added that for Madhya Pradesh this figure would be 3.75 per cent.
Raghavji said following introduction of some new taxes and rationalisation of old taxes, bidis, telephone equipment and cellphones would become costlier and the life-time tax paid for motorcycles would go up.