Madhya Pradesh Farmers to Receive Rs 4000 per Hectare; CM Yadav Reports 13% Economic Growth
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Synopsis
Madhya Pradesh's Chief Minister Mohan Yadav announced a 13% economic growth and a rise in support for paddy farmers to Rs 4000 per hectare, doubling the previous amount. The announcement was made during a farmer gathering in Balaghat, highlighting various development projects and welfare initiatives across the state.
Key Takeaways
- Madhya Pradesh's economy grew by 13% this year.
- Paddy farmers will receive Rs 4000 per hectare.
- Development projects worth Rs 326 crore announced.
- Per capita income rose to Rs 1,42,565 in 2023-24.
- Budget session to start on March 10.
Bhopal, March 1 (NationPress) In a significant announcement, Chief Minister Mohan Yadav revealed that Madhya Pradesh has achieved a remarkable 13 percent economic growth this year. He stated that paddy farmers will receive Rs 4000 per hectare, which is a substantial increase from the previously declared Rs 2000 per hectare. This statement was made during a farmer gathering in Balaghat.
The Chief Minister also introduced various development initiatives and projects worth Rs 326 crore in the district, emphasizing that this notable economic growth reflects the state's expanding economy. He acknowledged Prime Minister Narendra Modi’s contributions in advancing India's economy from 11th to 5th globally within a decade. CM Yadav attributed the 13 percent growth rate to numerous welfare programs implemented by the state government.
Highlighting the recently held Global Investors’ Summit 2025, CM Yadav pointed out that women in the state will gain from augmented funding as private investments begin to flow in.
The state's GDP increased by 9.23 percent last financial year, reaching Rs 12,46,471 crore. The Economic Survey 2023-24 indicated that the GSDP at constant prices for 2023-24 was Rs 6,60,363 crore, marking a 6.01 percent increase from the previous year.
According to the Economic Survey 2023-24, the per capita income of Madhya Pradesh has significantly risen from Rs 38,497 in 2011-12 to Rs 1,42,565 in 2023-24, showing nearly a fourfold growth. Even after adjusting for inflation, there has been considerable growth in the per capita net income, highlighting real economic progress. The state government plans to present its annual budget for 2025-26 on March 12 in the state assembly, with the budget session commencing on March 10.
CM Yadav also announced a variety of projects, such as an astroturf for hockey and multiple bridges. He assured that alongside the rapid economic growth, welfare schemes aimed at uplifting all sections of society are in progress.
These initiatives include economic and social empowerment programs for tribal and scheduled caste communities, women's empowerment, promotion of industry and trade through simplified regulations, and the integration of technology in agriculture to enhance farmers’ income through food processing.
