Presenting an abstract of the financial statement for 2011-12 in the West Bengal assembly, Finance minister Amit Mitra today said the state has set an ambitious plan of raising revenue receipt by 31.39 per cent.

Mitra said that the state government had on June 24 presented an annual financial statement for 2011-12, along with a vote-on-account for two months (ie for August and September) for the current financial year.

Stating that he was giving a statement of trends of expenditure and a statement on growth trajectories, the Mitra said that the state government was looking at garnering revenue resources.

Without disclosing the mechanism to mop up resources, the minister later told reporters in the lobby that the state government would place a Finance Bill in the House on August 29.

Mitra did not rule out taxation measures in the bill.

Stating that while the budget was projected as zero deficit one by the previous government, the new government has found a deficit of Rs 2,838 crore.

The revenue shortfall in 2010-11 was Rs 17,166.03 crore, the largest in the country.

The new government, the finance minister said, would strive to bring down the revenue deficit to Rs 8,290.83 crore in 2011-12. "Though it is difficult, we will achieve it."