PTI | February 25, 2010
Madhya Pradesh Finance Minister Raghavji on Thursday said the state's earning from revenue in 2009-10 is higher than projected in the last year's budget and emphasised on ensuring that all departments spend the money allocated to them under different schemes.
"The revenue reciepts for the year 2009-10 is more than the projected revenue collection in the last year's budget," Raghavji told reporters after presenting the state budget for the year 2010-11.
When asked about reports of many departments unable to utilise the allocated funds under different schemes, he said that from now onwards quarterly review of the amount allocated and spend by the department will be done and if it was found that any department is unable to utilise the money after the end of third quarter, then it will be diverted to other heads.
To a question he said that till March 31, 2009, the state has a loan of Rs 47,280 crore which has now rose to Rs 56,250 crore.
He said that as compared to the year 2001-02, when 20 per cent interest was paid on the loans, the state government now pays only 11.63 per cent interest on borrowings.
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