Chhattisgarh state Finance Minister Dr Ram Chandra Singh Deo's third budget, presented today in Raipur, unveiled several development projects and estimated a healthy rise in state outlays.

Based on projected revenue receipt growth of 26 per cent from Rs 5820 crore (Rs 58.2 billion) in 2002-03 to Rs 7328 crore (Rs 73.28 billion) in 2003-04. Deo promised 56 per cent increase in plan expenditure from Rs 2792 crore (Rs 27.92 billion) in 2002-03 to Rs 4347 crore (Rs 43.47 billion) in 2003-04.

The thrust areas would be infrastructure development, including road and irrigation projects covering 734 roads, 269 bridges and 439 irrigation projects. Five new drinking water projects were also planned. The state plan would go up from Rs 2043.01 crore (Rs 20.43 billion) in 2002-03 to Rs 2847.22 crore (Rs 28.47 billion) in 2003-04.

Expenditure on salaries has been limited to 30 per cent of the total expenditure while interest payments would account for only 10.8 per cent of total expenditure in 2003-04 as compared to 12 per cent in the current year, Deo indicated.

Special development packages for Bastar and Surguja have been incorporated in the budget. No new taxes have been proposed in the budget.

The state strategy of augmenting tax revenue through rationalisation in the tax structure and better tax administration has yielded good results in the current year, and further rationalisation of taxes has been proposed in the year 2003-04.