diff --git a/configure.ac b/configure.ac
index d32c1f902b..2825e78e34 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,4 +1,3 @@
-dnl Note: this file is generated from configure.base by autogen.sh
 AC_INIT
 AC_CONFIG_SRCDIR([gst/gstobject.h])
 
@@ -7,8 +6,8 @@ AC_CANONICAL_TARGET([])
 AM_CONFIG_HEADER(config.h)
 
 GST_VERSION_MAJOR=0
-GST_VERSION_MINOR=2
-GST_VERSION_MICRO=1
+GST_VERSION_MINOR=3
+GST_VERSION_MICRO=0
 GST_VERSION=$GST_VERSION_MAJOR.$GST_VERSION_MINOR.$GST_VERSION_MICRO
 
 PACKAGE=gstreamer