Madhya Pradesh to present state budget after 2024 Lok Sabha elections

Madhya Pradesh government will present the state budget in July 2024 due to model code for the Lok Sabha elections 2024 and till then no new schemes can be announced, said a state finance department notification issued on Saturday. (Twitter/@CMMadhyaPradesh) The notification said the vote of account will be brought in February-March to arrange the expenses of the state government for the first four months. Vote for account is a mechanism through which the government requests for funds adequate to cover expenses until the present of a new budget. Wrap up the year gone & gear up for 2024 with HT! Click here According to the instructions issued the Finance Department, the data of revised estimates for 2023-24 and budget estimates and vote on account for the financial year 2024-25 (April 2024 to July 2024) is to be given in the budget module of Integrated Financial Management and Information System (IFMIS), state treasury. The notification said that the Vote on Account is being brought only for necessary expenses for the first four months. “If the officers of the adminrative department feel the need to discuss this matter with the secretary of the Finance Department or the Additional Chief Secretary, then they will be able to discuss with the Finance Department fixing a date and time for it. The schemes can be abolished or merge after discussion but no new expenditure or new item will be included in this vote on account,” reads the notification. Meanwhile, the state government is going to take loan of ₹2000 crore on December 26 for financing productive development programs and projects to be implemented in the state. A gazette notification has been released in the matter. The notification said, “The government of Madhya Pradesh here notifies the sale of Madhya Pradesh Government Stock (Securities) of 16-Year tenure for an aggregate amount of ₹2000 crore. The loan will be utilized for financing productive development programs and projects to be implemented in the State. The state government also received ₹5727 crore from the union finance minry on Friday. Chief Miner Mohan Yadav said, “The moving forward rapidly on the path of development is the guarantee of Prime Miner Narendra Modi. I express my heartfelt gratitude to Prime Miner Modi and Union Finance Miner Nirmala Sitharaman for this important decision. Certainly, this decision will give a new impetus to all-embracing, inclusive and universal development in Madhya Pradesh and other states.”