How is Madhya Pradesh Projecting Over 11% GDP Growth for FY 25-26?
Synopsis
Key Takeaways
Bhopal, Feb 17 (NationPress) The government of Madhya Pradesh presented the Economic Survey for the fiscal year 2025-26 in the state Assembly on Tuesday, offering preliminary estimates that showcase remarkable economic growth and sectoral advancements in the region.
In response to the impressive growth observed across various sectors in Madhya Pradesh, Chief Minister Mohan Yadav emphasized that through fiscal discipline, transparent governance, and the visionary leadership of Prime Minister Narendra Modi, the state’s economy has notably strengthened.
The Gross State Domestic Product (GSDP) at current prices is projected to be Rs 16,69,750 crore for FY 2025-26, exhibiting an increase of 11.14 percent from Rs 15,02,428 crore the previous year.
According to the state’s economic survey, “At the constant prices of 2011-12, the GSDP is estimated at Rs 7,81,911 crore, which indicates a real growth of 8.04 percent over Rs 7,23,724 crore.”
The per capita net income has seen a significant rise from 2011-12 to 2025-26, reaching Rs 1,69,050 at current prices and Rs 76,971 at constant prices, in stark contrast to Rs 38,497 in both measurements back in 2011-12, highlighting a remarkable improvement in residents' real income levels.
In terms of the composition of Gross State Value Added at current prices, the primary sector accounts for 43.09 percent, the secondary sector 19.79 percent, and the tertiary sector 37.12 percent.
When adjusted for constant prices, these shares are 33.54 percent for the primary sector, 26.18 percent for the secondary sector, and 40.28 percent for the tertiary sector.
The primary sector's value increased to Rs 6,79,817 crore from Rs 6,33,532 crore, achieving a growth of 7.31 percent at current prices.
Within this sector, crops represent the largest segment at 30.17 percent, followed by livestock at 7.22 percent, mining and quarrying at 2.96 percent, forestry at 2.13 percent, and fishing and aquaculture at 0.61 percent.
The secondary sector expanded to Rs 3,12,350 crore from Rs 2,84,125 crore, reflecting a growth of 9.93 percent at current prices and 6.87 percent at constant prices.
Construction leads this sector with a share of 9.22 percent, followed by manufacturing at 7.22 percent, and electricity, gas, water supply along with other utility services at 3.35 percent.
The tertiary sector recorded the highest growth, rising to Rs 5,85,588 crore from Rs 5,05,679 crore, at 15.8 percent current prices and 12.07 percent constant prices.
Trade, repair, hotels and restaurants are dominant with 10.35 percent, followed by other services at 7.8 percent, real estate and professional services at 4.98 percent, public administration at 4.96 percent, financial services at 3.73 percent, transport and storage at 2.8 percent, communication and broadcasting at 1.68 percent, and railways at 0.82 percent.
These statistics emphasize the broad-based economic expansion in Madhya Pradesh, particularly driven by services while maintaining steady contributions from agriculture and industry.