On Wednesday (12th March), Madhya Pradesh Finance Minister Jagdish Devda presented a Rs 4.21 lakh crore budget in the state Assembly. This is Rs 48,954 crore more than the previous year’s budget which stood at Rs 3.75 lakh crore.
Keeping the estimated fiscal deficit at 4 percent of GSDP, this budget is focused on the target of doubling the budget size and GSDP of the state by the year 2029-30.
The state Finance Minister made a provision of Rs 5,220 crore under the Chief Minister Kisan Kalyan Yojana, while the Minister said a provision of Rs 2,001 crore has been made under the Pradhan Mantri Fasal Bima Yojana (crop insurance scheme).
The Finance Minister proposed an allocation of Rs 18,669 crore for the Ladli Behna scheme and Rs 1,193 crore under the Ladli Laxmi Yojna, while an amount of Rs 17,136 crore was proposed to be allocated for the Jal Jeevan Mission.
Minister Devda said his government focused more on good governance.
He said, “Our government has decided that the allowances currently payable to the government servants will be revised in accordance with the relevant levels of the Seventh Pay Commission from April 1, 2025.”
Similarly, the Minister said a provision of Rs 1,000 crore under the Chief Minister Krishak Faral Uparjan Rahayata Yojana and an equal amount has been earmarked for the payment of bonuses on crop procurement from farmers at the support price.
Making another announcement for agriculture and allied activities, the Minister said an amount of Rs 850 crore has been made under the Chief Minister Krishak Unnati Yojana, and a provision of Rs 505 crore under Gau Samvardhan and Animal Conservation has also been made. As several thousand cows are protected in various cowsheds, an amount of Rs 40 per cow is given to the cowsheds across the state, which has been doubled from the past year.
To fulfill Prime Minister Narendra Modi’s resolution of Developed India 2047, the Finance Minister said, “Our government has also kept the vision of Developed Madhya Pradesh 2047; this budget of the state is moving towards achieving that resolution.”
Announcing the size of the economy of the state, the Minister said the economy of the state has to be made 2 trillion dollars (about Rs 250 lakh crore) by the year 2047.
“This budget is a draft to implement the ‘GYAN’ (Gareeb, Yuva, Annadata and Nari) mantra of PM Modi in the form of a vision on the land of Madhya Pradesh…This budget will strengthen the happiness and prosperity of villages, poor, youth, food providers, women and farmers,” the Minister said.
On other social sector allocation, Minister Devda announced a provision of Rs 7,132 crore under Atal Griha Jyoti Yojana, another provision of Rs 5,299 crore under reimbursement for free electricity supply to 5 HP agricultural pumps and one light connection by state electricity board, a provision of Rs 700 crore under the Mukhyamantri Jan Kalyan (Sambal) Yojana, an amount of Rs 1,277 crore is earmarked under Pradhan Mantri Jan Arogya Yojana (Ayushman Bharat).
The estimated revenue receipts of the state are Rs 2,90,879 crore, which includes the state’s own tax amount of Rs 1,09,157 crore, the state’s share in central taxes of Rs 1,11,662 crore, non-tax revenue of Rs 21,399 crore and grants-in-aid received from the Center of Rs 48,661 crore. In the year 2025-26, the state’s own tax revenue is estimated to increase by 7 per cent as compared to the budget estimate of the year 2024-25. In the year 2025-26, the capital outlay is estimated to increase by about 31 per cent as compared to the budget estimate of the year 2024-25.
