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Bill on better Budget management

Staff Correspondent

Bid to bring revenue deficit to zero and budgetary deficit to reasonable level

BHOPAL: The Madhya Pradesh Cabinet, presided over by Chief Minister Babulal Gaur, on Tuesday approved the proposed Fiscal Responsibility and Budget Management Bill, 2005, which is linked with the consolidation of loans and relief benefits to be received from the Centre under the recommendations of the Twelfth Finance Commission.

Briefing newspersons, the Minister for Commerce and Industry, Kailash Chawla, said that under the provisions of the proposed Bill, the State Government would bring its revenue deficit to zero and reduce the budgetary deficit to reasonable limits within a fixed time-frame. While presenting the annual budgetary statement, the Government would give a detailed account of the wages and number of employees working with autonomous State owned public sector undertakings as well as organizations receiving State grants.

The State Finance Minister would also present a fiscal policy statement in the Assembly every six months. Mr. Chawla informed that the Cabinet has decided to set up a sub-committee to be headed by the State Finance Minister, Raghavji, to consider the proposal to give the status of Cabinet Ministers and Ministers of State to the Chairmen and vice-chairmen of State-owned autonomous corporations.

Mr. Chawla said the Cabinet had decided to extend all facilities to those former Chief Ministers who now belong to Chhattisgarh. The Cabinet approved the Madhya Pradesh Nagar Palik (amendment) Bill which would give the Municipal Commissioners powers of the State Government to decide cases relating to all kinds of construction activity.

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