MP govt to raise Rs 20,000 crore revenue without new tax

Jabalpur: The Madhya Pradesh government is hopeful to raise around Rs 20,000 crore in revenue without imposing any new tax on public in the next budget, Finance Minister Tarun Bhanot said here Monday.

He said the government has taken certain decisions to raise the revenue without imposing any new tax.

The Budget session of the state Assembly would begin from July 8.

Addressing reporters, Bhanot said the balance sheet of the state is in cash surplus.

The state government might seek a loan upto Rs 35,000 crore for financial year 2019-2020, he said, adding that the erstwhile BJP government had taken loans to the tune of Rs 1,60,000 crore during its 15-year tenure.

He also said the government would make the financial data on expenditure available online for public view.

Bhanot informed the government had approved the second phase of farm loan waiver scheme - Jai Kisan Rin Mafi Yojana- to extend benefit to the farmers who were left out in the first phase.

"Initially when the loan waiver scheme was launched, the data of around 48 lakh farmers was processed for eligibility. In first phase, the government waived loan of 19.

98 lakh farmers before the model code of conduct kicked in for the Lok Sabha elections. They were the farmers whose loan account were declared as NPAs by banks," the minister said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.