Madhya Pradesh Budget-2024-25 : Unveils ₹3.65 Lakh Crore All-Inclusive Budget

The Madhya Pradesh government presented the state budget for 2024-25 on July 3, with an outlay of ₹3.65 lakh crore, marking significant allocations for infrastructure development and the welfare of women and tribals. No new taxes were announced in the budget, which State Finance Minister Jagdish Devda termed as “sarvsparshi” (all-inclusive).

Devda presented the budget in the State Legislative Assembly amid a ruckus created by the opposition Congress over an alleged nursing college scam. “The budget for 2024-25 has been designed with a view to doubling the budget size in the next five years, increasing capital investment, expanding roads, irrigation, and electricity facilities, providing quality health facilities, attracting investment for employment generation, and ensuring good governance,” Mr. Devda said in his speech.

Amid continuous sloganeering by the opposition, the government presented an outlay of ₹3.65 lakh crore for the financial year 2024-25, which is 16% more than the previous year. The budget for the women and child development department has been substantially raised to ₹26,560 crore from ₹14,686 crore in the last fiscal year.

Devda stated that capital expenditure is expected to increase by 15% in 2024-25 compared to the budget estimate for 2023-24. The capital outlay for 2024-25 is estimated to be 4.25% of the Gross State Domestic Product (GSDP).

The fiscal deficit for 2024-25 is estimated to be 4.11% of the GSDP. The allocation for the infrastructure sector has been increased to ₹53,460 crore from ₹49,009 crore in the previous fiscal year, while the allocation for the urban and rural development sectors has been increased to ₹44,588 crore from ₹39,326 crore in the last fiscal year.

The government has allocated ₹40,804 crore for the Scheduled Tribe sub-plan, while the allocation for the Scheduled Caste sub-plan stands at ₹27,900 crore. A budget allocation of ₹18,984 crore has been made for the ‘Ladli Behna Yojana’, the BJP government’s flagship scheme under which eligible women are provided ₹1,250 per month.

The budget also includes provisions of ₹15,509 crore for the establishment of government primary schools and ₹9,258 crore for middle schools. For the agriculture sector, the budget has been increased to ₹26,126 crore from ₹22,732 crore in the previous fiscal year. Devda said the budget size will be doubled in the next five years.