Synopsis
Madhya Pradesh's Chief Minister Mohan Yadav revealed that the state's budget for 2025-26 will surpass Rs 4.2 lakh crore, significantly increasing from Rs 3.5 lakh crore the previous year, targeting various developmental sectors.Key Takeaways
- Budget exceeds Rs 4.2 lakh crore
- Focus on comprehensive development
- Prioritization of key sectors
- Commitment to doubling budget in five years
- Economic growth rate at 11.05%
Bhopal, March 12 (NationPress) Madhya Pradesh Chief Minister Mohan Yadav announced on Wednesday that the state's budget for the financial year 2025-26 is anticipated to surpass Rs 4.2 lakh crore, marking a notable rise from last year's Rs 3.5 lakh crore.
Deputy Chief Minister Jagdish Devda, who oversees the finance portfolio, is scheduled to present the budget in the Madhya Pradesh Legislative Assembly today.
"The budget has been designed to foster comprehensive development in the state and fulfill public expectations. Sufficient funding will be allocated to every department and project," stated CM Yadav.
He highlighted that the government, upon taking office last year, committed to significantly increasing the state's budget. "We aim to double Madhya Pradesh's budget in the next five years. Last year’s budget was Rs 3.5 lakh crore, and this year it will exceed Rs 4.2 lakh crore. This positive trend is expected to persist annually," he remarked.
The budget will focus on essential areas like industry, infrastructure, welfare programs, and agriculture, in line with Prime Minister Narendra Modi's 'GYAN' initiative. With 2025 marked as the 'Year of Industry', new strategies are anticipated to encourage investment and job creation.
Important allocations are expected for women's welfare, affordable housing, agricultural subsidies, and tourism development, all aimed at propelling Madhya Pradesh's economic growth.
The budget session of the Madhya Pradesh Legislative Assembly began on March 10 and will end on March 24. During this session, the BJP government is also likely to introduce three crucial bills for the House's approval.
On Tuesday, the Mohan Yadav government presented an Economic Survey that estimated the state's growth rate at 11.05 percent, exceeding the national average.
This success is primarily attributed to the government's ongoing efforts over the last two decades.
The new administration aims to achieve a "Viksit Madhya Pradesh", aligning with the broader goal of "Viksit Bharat".
The survey indicates that the state's gross domestic product (GDP) for the fiscal year 2024-25 has reached Rs 15,03,305 crore, reflecting an 11.05 percent increase from Rs 13,53,809 crore in 2023-24 (as per quick estimates).
