State records Rs 15,027 crore plan expenditure in 2012-13

The state government clocked a Plan expenditure of Rs 15,027 crore for 2012-13, marginally falling short of the budget estimate (BE) of Rs 15200 crore for the fiscal though exceeding revised estimate (RE) of Rs 15,000 crore.

Capital expenditure stood at Rs 5622 crore, representing only 2.2% of the gross state domestic product (GSDP) and falling short of the RE figure of Rs 5740 crore.

The state's own tax revenue collection at Rs 15034.20 crore also lagged BE by 3.83%. Non-tax revenue, however, exceeded BE of Rs 5200 crore by 55.34% to reach Rs 8078.03 crore, mainly on the back of robust collection in mining revenue at Rs 5352.94 crore.

The state achieved a substantial fall in net debt stock by Rs 610 crore in 2012-13. Net debt of the state by the end of 2012-13 stood at Rs 37,980 crore, indicating a fall in debt stock by 1.8%. The debt-GSDP ratio of the state is 14.68% of GSDP at the end of 2012-13 which is well within the norm of 29% stipulated by Fiscal Responsibility and Budget Management (FRBM) Act.

At the close of 2012-13, there was a tiny fiscal surplus of Rs 3.61 crore.