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?State has shed Bimaru tag?

SUMMING UP the debate on the second supplementary budget in the State Assembly today, Finance Minister Raghavji painted a rosy picture of Madhya Pradesh?s economy.

india Updated: Jan 04, 2006 15:40 IST

SUMMING UP the debate on the second supplementary budget in the State Assembly today, Finance Minister Raghavji painted a rosy picture of Madhya Pradesh’s economy. He even asserted the State has come out of ‘Bimaru’ status due to excellent fiscal management of the BJP Government. The House, later, passed by voice vote supplementary budget of Rs 43,90,6724,000.

Highlighting achievements of the State Government he said for the first time in 16 years, the overdraft situation did not rise even once in the year 2004-05. Drawals from treasury were also not stopped for a single day and the Centre gave an additional Rs 293 crore as incentive for excellent fiscal management.

He further said planned expenditure had shot up by 71 per cent, capital expenditure had also risen by 88 per cent, allocation for road construction had been doubled and provision of expenditure for irrigation had also been raised by 53 per cent.

Raghavji said allocation in health and education had also been doubled and the State Government had taken upon itself borrowings of MPSEB worth over Rs 3,000 crore.

He also referred to steps taken for welfare of State staff and said dearness allowance for Shikshakarmis had been raised by 38 per cent, dearness allowance for State staff has been raised by 14 per cent and that for pensioners by 19 per cent.

Finance Minister further said a provision of Rs 3.20 crore had been made in the budget for setting up a special economic zone near Indore. A Provision of Rs 15 crore has also been made in the supplementary budget for acquisition of land near Indore and Bhopal airports so that air strips could be

First Published: Jan 04, 2006 15:40 IST