BHOPAL: On the eve of the state Budget for 2023-24, the Madhya Pradesh government on Tuesday tabled the economic survey report in the House, which showed an increase in GSDP by 7.06% in the 2022-23 fiscal.
“At constant rates of 2011-12, per capita income in the year 2021-22 was Rs 61,524 which in the year 2022-23 is estimated to be 65,023 which is an increase of 5.67% compared to the last fiscal year,” the survey says, adding: “On the basis of current prices, the net per capital income in 2021-22 was Rs 1,21,594 which in the year 2022-23 is likely to be Rs 1,40,583 which is an increase of 15.62%.”
Chief minister Shivraj Singh Chouhan was elated with the economic survey findings. Speaking to reporters at the assembly, Chouhan said, “The GSDP, which was Rs 71,594 crore in 2001-02 has now increased to Rs 13,22,000 crore. Through this one can evaluate at what speed our GSDP has been increasing. Per capita income in 2001-02 was Rs 11,718, which increased to Rs 38,497 in 2011-12 and rose to Rs 1,40,500 in 2022-23, he said.
The chief minister added that: “Increase in per capita income means that people are getting more ways of increasing their income.” The economic survey points out that 59.4% of total advances and loans were given to priority sectors, which is higher than the national average of 40%. “The agriculture sector received 32.2% of the total loans, which is 18% higher than the national average target,” the survey said. The CM said that the ratio between GSDP and loans in 2005 was 39.5% while in 2020-21 it was 22.6% despite the Covid pandemic.
“We are often criticized for taking loans. But if you see the statistics then in 2005, loans were taken which was 39.5% of the GSDP. But even after the struggles of Covid, this in 2020-21 loans taken were only 22.6% of the GSDP. This proves that compared to GSDP, loan percentage has steadily decreased,” he argued. “Last year, our capital expenditure was Rs 37,089 crore which we have increased by 23.18% in one year. Now it has increased to Rs 45,685 crore. The rate of industrial development in 2001-02 was 0.61% which in 2022-23 has increased to 24%,” Chouhan said. “So far as increase in revenue collection is concerned, we have steadily augmented the taxes of the state and in three years, this has become 7.94%. It means that we have continuously increased our income through state taxes,” he said.