The economic condition of Madhya Pradesh has strengthened continuously: MP CM Chouhan

Chief Minister Shivraj Singh Chouhan has said that Madhya Pradesh is doing better in financial discipline, all-inclusive development and tax collection. The financial management of the state is good. Per capita income has also increased.  Chouhan today on TV on the Economic Survey 2022-23 of Madhya Pradesh. Was discussing with the representatives of the channels.

Chouhan said that 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. Industrial growth rate of the state has also increased. According to the advance estimate, the economic growth rate of the state is 16.43 percent in the year 2022-23. Earlier this growth rate was 18.02 percent in 2021-22 despite the circumstances of Kovid. In the year 2001-02 it was only 4.43 percent. The state’s gross domestic product is estimated to be Rs 13 lakh 22 thousand 821 crore. It was Rs 71 thousand 594 crore in the year 2001-02. Thus the Gross Domestic Product (GSDP) has increased by more than 18 times between then and now.

Significant increase in per capita income

Chouhan said that in the year 2022-23, the fact of per capita income of Rs one lakh 40 thousand 583 in Madhya Pradesh has come to the fore. In the year 2011-12, the per capita income in the state had increased to Rs.38 thousand 497. Prior to this, in the year 2001-02, the per capita income in Madhya Pradesh was only Rs 11 thousand 718. Talking about debt and GSDP ratio, the performance of Madhya Pradesh is good in this area also. The latest Economic Survey states that the debt to GSDP ratio which was 39.5 percent in the year 2005 was 22.6 percent in the year 2020-21. 

The capital expenditure of the state has increased from Rs 37 thousand 89 to Rs 45 thousand 685 crore. This increase 23. 18 percent and is the highest capital expenditure in the state’s history. Efforts were made to increase the state’s revenue even under the circumstances of Kovid, with the vision of building self-reliant Madhya Pradesh. It has grown at a Compounded Annual Growth Rate (CAGR) of 7.94 percent per annum in the last three years. In the field of fiscal consolidation, the work of increasing revenue continuously has been done in Madhya Pradesh. The work of expansion of priority sector landing has also been done.

Increase in agriculture growth rate and facilities for farmers

Credit to farmers has increased by 13.41 percent and to MSME sector by 30.22 percent. In the year 2001-02, the agriculture growth rate was only three percent, which has now increased to 19 percent. The state has also achieved the success of wheat production of 352.7 lakh tonnes in the advance estimate of 2022-23 as compared to 174.8 lakh tonnes in the year 2013-14 and 46 percent participation of Madhya Pradesh in wheat exports. Paddy production has increased from 53.2 lakh to 131.8 lakh tonnes.

Better performance in industry and irrigation sector, the state is at the forefront of the welfare of small businessmen

The industrial growth rate, which was just 0.61 per cent in the year 2001-02, has now increased to 24 per cent. The work of welfare of street vendors has also been done very well in the state. Madhya Pradesh is leading in the country by giving loans of more than 521 crores to small businessmen (street vendors) of 5.25 lakh urban areas. Irrigation capacity has increased by 585 percent. In the year 2003, the irrigation potential was 7 lakh 50 thousand hectare, which is now more than 45 lakh hectare.

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