MP Assembly: FM presents an economic survey, 5.7 per cent increase in per capita income
Bhopal, February 28 (HS): Finance Minister Jagdish Deora presented the Economic report on Tuesday, the second day of the budget session of the Madhya Pradesh Legislative Assembly. He told that Madhya Pradesh has grown at a speed of about seven per cent in the last year, while the per capita income in the state has increased by 5.7 per cent.
Here, Chief Minister Shivraj Singh Chouhan, while giving his reaction on the economic survey, said that the facts which have come in the economic study prove that the financial condition of Madhya Pradesh has strengthened. The base of the state budget and tax collection is increasing. The growth rate of Madhya Pradesh has grown by 16.34 per cent.
Finance Minister Jagdish Deora presented the Economic Survey in the House after Zero Hour on Tuesday, the second day of the Madhya Pradesh Legislative Assembly. A bright picture of Madhya Pradesh has been presented in this. It has been claimed that Madhya Pradesh was among the top states in the country in economic prosperity last year and achieved a growth rate of 16.43 per cent in GSDP. At the same time, this increase has been 319 per cent in ten years. The State Statistics Commission has also been constituted in Madhya Pradesh in the country.
More about MP’s Economic Report
According to the Economic Survey, the per capita income in Madhya Pradesh at constant prices increased by 5.67 per cent to Rs 65,023 in 2022-23 as per advance estimates. However, this is still 32% or Rs 31,499 less than the per capita national income of Rs 96,522 per annum. The state government says that the per capita income in Madhya Pradesh was Rs 38,497 in 2011-12, which has increased by 70 per cent over the years. A target has been set to make the country’s economy five billion dollars, in which Madhya Pradesh has set a target of keeping its contribution at $550 billion. The state is moving fast in this direction. The GSDP of the state has grown at a rate of 7.06 per cent at constant prices.
It has been told in the survey that the size of the budget of the state government is also increasing rapidly. In 2001, the allocation of Madhya Pradesh was only Rs 16,393 crore, which has grown to Rs 2,47,715 crore in 2023. This increase is 15 times. The expenditure budget of the state was Rs 2,17,313 crore in the last financial year, which has been increased by 14 per cent to Rs 2,47,715 crore in the budget estimates. According to the Economic Survey, the state’s revenue has grown at a CAGR of 7.94 per annum between 2018-19 and 2021-22. That is, on average, an increase of about eight per cent has been recorded in it every year. The state’s own revenue growth rate in the budget estimates for 2022-23 is 13.32 per cent, while the share in central taxes has increased to 9.81 per cent from last year.
On the other hand, due to the increase in irrigation potential, a record-breaking increase has been registered in the agriculture growth rate of Madhya Pradesh. In 2003, the irrigation potential was only 7 lakh 68 thousand hectares, which has increased to 45 lakh hectares in 2022. Madhya Pradesh remains number one in the country in the export of wheat. Madhya Pradesh accounts for 46 per cent of the total wheat exports in the country. Wheat production has increased from 169 lakh metric tonnes to over 600 metric tonnes in the past years.
At the same time, Madhya Pradesh is continuously getting prosperous in the field of health. Madhya Pradesh’s health budget has increased from Rs 662 crore to more than Rs 10,400 crore. There has been an increase of more than 43,500 in the number of paramedical staff as compared to 2003. Madhya Pradesh has become a surplus state in power. In Madhya Pradesh where the energy capacity was only 5,173 MW till the year 2003, which has increased to 28,000 MW in the year 2022.
Talking to the media after presenting the economic survey in the House, Chief Minister Shivraj Singh Chouhan said that the gross domestic product of Madhya Pradesh was Rs 71,594 crore in 2002, which has now increased to Rs 13 lakh 22 thousand crores. Similarly, the per capita income in 2002 was Rs 11718. Capita income increased to Rs 140500 in 2022-23. The government is constantly accused of taking loans, but according to statistics, earlier 39.5 per cent of the loans were taken. The debt percentage has come down to 22.6 in the year 2021 – 2022. There has also been an expansion in the royalty sector. In the state, 13.4 per cent of loans have been given to farmers and 30.22 per cent to MSMEs. Apart from this, loans worth more than Rs 521 crore have been given to street vendors.
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