Madhya Pradesh Sets Target to Double Annual Budget Size in 5 Years

Bhopal: Madhya Pradesh government has set a target to double its annual budget size to around Rs 8.30 lakh crore in the next five years.

State finance minister Jagdish Devda, while presenting a surplus annual budget of Rs 3,65,067 crore for 2024-25 in the house on Wednesday, said that “The budget has been made keeping in view the target set to double the budget site in the next five years”.

The size of the annual budget for 2024-25 is more than 16 percent of the previous annual budget estimate.

The budget proposals aim to increase the capital investment, develop infrastructure and generate employment by attracting investments, he said.

The budget for 2024-25 has a revenue surplus of Rs 1,700 crore.

Significantly, the budget for 2024-25 showed an increase in the state’s own tax revenue by 18 percent as compared to the budget estimate for the year 2023-24.

The ‘Ladli Behna Yojna’, the flagship scheme of the state BJP government launched by the previous Shivraj Singh Chouhan government ahead of the 2023 assembly polls in Madhya Pradesh, got the largest allocation of Rs 18,984 crore among the welfare schemes being undertaken by the government, in the budget.

Another women welfare scheme, CM Laxi Yojana, received the second biggest allocation of Rs 17,596 crore among the welfare schemes.

The budget has provided the largest allocation of Rs 40,804 crore (23.4 percent) for the development of scheduled tribes and second biggest allocation of Rs 27,900 crore (16 percent) for the development of scheduled castes.

No new taxes have been proposed in the budget.