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`Centre lauds M.P. budget'

Focus on development, fiscal discipline

Bhopal: Madhya Pradesh Finance Minister Raghavji on Tuesday said that the Centre and principal financial agencies praised the State's annual financial statement 2006-07 for its fiscal discipline and focus on overall development.

In his reply to a three-day discussion on the budget in the Assembly, Mr Raghavji answered -- sequentially and in a lighter vein -- every allegation and question by the Opposition.

"The Opposition member who described the budget as directionless must comprehend that it is actually very much development-oriented and will be a medium for Madhya Pradesh's speedy advancement on the development path," he said while adding that the annual financial statement won accolades from the Planning Commission and Reserve Bank.

Claiming that the budget contained several `firsts,' the Minister said it was the only revenue surplus budget in 13 years.

For the first time in 32 years, refuge was not taken in the Centre's ways and means provision.

"For the first time, an economic survey was issued and Madhya Pradesh became the maiden State to convey budget copies to every district," he explained.

Foodgrains were made tax-free and this would place an additional burden of Rs 50 crores on the exchequer.

Besides the decision to implement VAT from April 1, employees were provided a "gift" of Rs 400 crores within a year. -- UNI

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