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Aiming at Rs 22,50,00 per capita income by 2047: MP CM Mohan Yadav

IANS March 24, 2025 102 views

Madhya Pradesh's Chief Minister Dr. Mohan Yadav has unveiled an ambitious economic vision targeting Rs 22.5 lakh per capita income by 2047. The state's budget highlights include a 31% infrastructure spending increase and significant investments in agriculture and rural development. Strategic initiatives like solar pump programs and farmer-oriented schemes demonstrate a comprehensive approach to economic transformation. With impressive growth metrics and policy innovations, Madhya Pradesh is positioning itself as a leading economic powerhouse in India.

"Our economic trajectory demonstrates remarkable growth and transformative potential" - Dr. Mohan Yadav, MP Chief Minister
Bhopal, March 24: In 2002-03, the per capita income in Madhya Pradesh stood at a modest Rs 11,000 and today, the state budget outlines a remarkable leap to Rs 1,52,000 per capita income. Looking ahead, the state aims for a Rs 250 lakh crore budget by 2047, paving the way for a projected per capita income of Rs 22,50,000.

Key Points

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- State aims Rs 250 lakh crore budget with 31% infrastructure spending increase

Chief Minister Dr. Mohan Yadav shared this vision while addressing the budget session of the State Assembly on Monday, before the Session was adjourned sine die.

This ambitious plan focuses on boosting capital investment, expanding infrastructure such as roads and electricity, enhancing healthcare quality, and creating employment opportunities for marginalised and middle-class communities.

For the fiscal year 2025-26, infrastructure spending is set to see a historic 31 per cent increase, with 17 per cent of the total budget dedicated to this sector.

Highlighting the state's economic growth, CM Yadav noted that with gross domestic production estimated at Rs 16.94 lakh crore, the state proudly ranks second in the nation for rapid economic development.

Agriculture and forestry have doubled in size over the past six years, underscoring the significance of this budget.

The Policy Commission and Reserve Bank of India (RBI) have recognized the state's fiscal health and expenditure quality, placing it at the forefront nationally.

On the cultural front, the teachings of the Gita inspire efforts to revive traditions. Plans are underway to re-establish Geeta Bhawan, with Rs 100 crore earmarked for the purpose.

Milk production, currently at 9 per cent, is set to rise to 20 per cent through initiatives like the Vrindavan scheme, supported by a Rs 100 crore allocation.

Additional funds include Rs 25 crore for the Avaral Namda Basin and Rs 100 crore to develop pilgrimage sites.

Farmers remain central to the state's agenda, with Rs 850 crore allocated for farmer-oriented schemes. Investments also include Rs 100 crore for working women's hostels and Rs 80 crore for transportation facilities.

Tribal areas will benefit from road development to address longstanding issues.

The PM Krishak Mitra Surya Yojana is a transformative initiative aimed at providing electricity access to 32 lakh farmers through solar pumps within three years.

A substantial Rs 442 crore has been allocated for this programme.

Crop yield bonuses and other measures further support agricultural growth.

Additionally, over Rs 2,000 crore has been earmarked for public services, including preparations for the grand celebration of Simhastha Kumbh in 2028, ensuring better services for devotees.

And, Rs 500 crore has been allocated to honour Lord Shankaracharya's contributions to the nation and Sanatan Dhama, preserving his legacy for future generations.

In its total 56 hours of session, members discussed 16 hours and 30 minutes on Budget.

In total, nine sittings of the fifth session of 16th Assembly, 2,939 questions were asked and of them, 1,448 were listed.

Of the total 624 call-attention motion notices, 33 were admitted.

One important private resolution was also cleared by the Assembly. Also, the house cleared a second adjunct budget for the year 2024-25.

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