Madhya Pradesh Finance Minister Jagdish Deora presented a Rs 4.21 trillion budget for the financial year 2025-26 in the state Assembly on Wednesday. The budget is 15 per cent higher than the previous year’s allocation of Rs 3.65 trillion.
No new taxes have been introduced, nor has there been any proposal to increase existing taxes. The budget estimates a fiscal deficit of Rs 78,902 crore, equivalent to 4.66 per cent of the state’s gross state domestic product (GSDP).
The finance minister said that apart from the existing industrial areas, 39 new industrial zones are being developed across 14,500 acres, creating over three lakh new employment opportunities in the state. He added that incentives worth around Rs 30,000 crore would be provided to the industrial sector over the next five years.
The government has not increased the financial assistance provided to women under the Ladli Bahna Yojana, but has announced plans to link them to the central government’s Atal Pension Yojana.
An allocation of Rs 12,876 crore has been made for the home department, which is Rs 1,585 crore higher than the previous year. The budget has also set aside nearly Rs 2 lakh crore for social sector schemes.
Deora said Madhya Pradesh has the highest gross domestic product (GDP) growth rate in the country. According to the economic survey presented on Tuesday, the state’s GSDP grew at 11 per cent in the past year and has increased 17 times in the last 22 years.
He further stated that under the leadership of Chief Minister Mohan Yadav, the state government has prepared a vision document, Developed Madhya Pradesh 2047, which aims to increase the state’s GDP to Rs 250 trillion by 2047 and increase per capita income to over Rs 22 lakh per annum.
