MP Govt To Table Budget Today, Likely To Focus On Populist Schemes In Election Year

"There is progress in every field in Madhya Pradesh from economic and financial point of view. Revenue collection has also increased. Capital expenditure has also increased," CM Chouhan said.

Madhya Pradesh Budget for the financial year 2023-24 will be presented in the Legislative Assembly today.

Source : Getty Images

New Delhi: Madhya Pradesh Budget for the financial year 2023-24 will be presented in the Vidhan Sabha today, with more focus likely on populist schemes as the state Assembly polls are due this year-end. Finance Minister Jagdish Devda will table the Budget. 

Devda will table a "paperless Budget", an official said.

According to the official, the finance minister is expected to allocate surplus funds for Chief Minister Shivraj Singh Chouhan’s flagship Ladli Behna Yojna, under which women will be given Rs 1,000 assistance per month with certain riders including that they are not Income Tax payee.

He further stated that the Ladli Behna scheme will be rolled out from March 5 in the state.

The economic survey report, released on the eve of MP's Budget 2023-24, showed a 7.06 percent rise in the Gross State Domestic Product (GSDP).

On Tuesday, CM Chouhan said the state was performing in a better manner because of fiscal discipline and inclusive development, PTI reported.

The state’s financial management is better and per capita income has also increased, he further stated after the release of the economic survey report.

"There is progress in every field in Madhya Pradesh from economic and financial point of view. Revenue collection has also increased. Capital expenditure has also increased. The industrial growth rate of the state has also increased," Chouhan said.

According to advance estimates, the state's economic growth rate was 16.43 per cent in 2022-23, he said.

Earlier in 2021-22, this growth rate was 18.02 per cent, irrespective of the COVID-19 conditions. In 2001-02, it was only 4.43 per cent, he added.

Chouhan said the GSDP is estimated to be Rs 13,22,821 crore. It was Rs 71,594 crore in 2001-02. Thus, the GSDP has increased by more than 18 times, he said.

In 2022-23, the per capita income in Madhya Pradesh was estimated to be Rs 1,40,583, while in the year 2011-12, it was Rs 38,497, the CM said.

In 2001-02, the per capita income in Madhya Pradesh was only Rs 11,718.

(With inputs from PTI)