diff --git a/VERSION b/VERSION
index 6a9804dd..8bbf4382 100644
--- a/VERSION
+++ b/VERSION
@@ -1,4 +1,4 @@
 # GNU Make syntax
 VERSION_MAJOR := 1
-VERSION_MINOR := 46
-VERSION_PATCH := 1
+VERSION_MINOR := 47
+VERSION_PATCH := 0