Madhya Pradesh’s Deputy Chief Minister and Finance Minister, Jagdish Devda, has announced the state’s annual budget for the fiscal year 2025-26, totaling a record-breaking Rs 4.21 lakh crore. This budget marks a significant milestone, reflecting a strong commitment to development and welfare.
- First budget to exceed Rs 4 lakh crore
- Focus on industry, agriculture, and rural development
Historic Budget Surpasses Key Financial Milestones
The new budget for Madhya Pradesh marks a historic moment as it is the first to surpass the Rs 4 lakh crore threshold. This budget represents a remarkable 15% increase from last year’s budget of Rs 3.65 lakh crore. The estimated revenue receipts for the fiscal year are projected at Rs 2.90 lakh crore, which includes Rs 1.09 lakh crore from state taxes and Rs 1.11 lakh crore from the state’s share in central taxes. Notably, the budget will not introduce any new taxes or tax increases, providing a sense of stability for citizens. As Jagdish Devda stated, “This budget is a testament to our commitment to transparency and growth without burdening our citizens.”
Strategic Investments in Key Sectors
A significant portion of the budget is strategically allocated to crucial sectors such as industry and agriculture. The government plans to develop 39 new industrial zones across 14,500 acres, a move expected to generate over 3 lakh jobs. However, the allocation for agriculture has decreased, with funding set at Rs 58,257 crore, down from Rs 66,605 crore the previous year. This decrease has raised concerns among farmers and agricultural advocates. “While industrial growth is important, we must not forget the backbone of our economy—agriculture,” said Dr. Anjali Singh, an agricultural economist. The budget also earmarks Rs 19,050 crore for rural development and Rs 18,715 crore for urban development, including preparations for the Sinhastha Kumbh Mela in Ujjain in 2028.
Commitment to Social Welfare and Inclusivity
The Madhya Pradesh government has shown a strong commitment to social welfare through substantial allocations in the new budget. A significant amount of Rs 18,669 crore has been dedicated to the Ladli Behna Scheme, aimed at providing financial aid to eligible women. Furthermore, the allocations for Scheduled Tribe and Scheduled Caste welfare have increased, demonstrating a focus on inclusivity and support for marginalized communities. “Investing in our women and disadvantaged groups is essential for the holistic development of the state,” noted Dr. Kavita Rao, a social policy expert. This commitment to social welfare underscores the government’s vision to foster equitable growth throughout Madhya Pradesh. In summary, Madhya Pradesh’s budget for 2025-26 reflects a pivotal shift toward substantial economic growth while addressing social welfare needs. As the state navigates its fiscal future, the emphasis on job creation, industrial development, and inclusive policies will be critical.
