Biggest ever Rs 3.65L cr MP Budget, no new tax

Budgetary allocation for employment was 39% more than the previous Budget and 35% more for culture promotion.
Madhya Pradesh Chief Minister Mohan Yadav with Deputy CM and Finance Minister Jagdish Devda before presentation of the annual budget in the State Legislative Assembly during the ongoing Monsoon session, in Bhopal, Wednesday, July 3, 2024.
Madhya Pradesh Chief Minister Mohan Yadav with Deputy CM and Finance Minister Jagdish Devda before presentation of the annual budget in the State Legislative Assembly during the ongoing Monsoon session, in Bhopal, Wednesday, July 3, 2024.Photo | PTI

BHOPAL: Around seven months into office, the Mohan Yadav-led BJP government presented on Wednesday its first full-fledged Budget, the biggest-ever annual Budget of Madhya Pradesh.

Presented by deputy CM and finance minister Jagdish Devda, the size of the Rs 3.65 lakh crore-plus 2024-25 Budget was 16% bigger than the Rs 3.14 lakh crore-plus 2023-24 Budget presented by the same finance minister in the previous BJP government headed by Shivraj Singh Chouhan.

The Budget, which neither proposed new tax, nor any hike in the rates of the existing taxes, focused on increased allocation on priority sectors, including 15% for infrastructure, 13% for health, 12% for urban and rural development, 11% for education, 7% for agriculture and 6% for the social sector.

The government allocated Rs 53,460 crore for the infrastructure sector, 9% more than the previous year, Rs 48,004 crore for health, women and child development, 56% more than last year, Rs 44,588 crore for urban and rural development, 13% increase in allocation, Rs 41,124 crore for education, 4% hike, Rs 21,288 crore for social sector (SC, ST and OBC), 10% more than last year’s allocation.

Budgetary allocation for employment was 39% more than the previous Budget and 35% more for culture promotion.

The allocation for the tribal affairs (Rs 12,653 crore) and the SC welfare department (Rs 2,327 crore) was more than Rs 1,646 crore proposed for the backward sections and minority welfare departments.

Focusing on jobs, the Budget proposed 46,000 new posts in the health sector, recruitment of 11,000 school teachers and 7,500 police personnel. Opening of three government medical colleges in 2024-25 and eight more medical colleges in next two years was also proposed.

Aiming to boost agriculture, the Budget proposed Rs 125 per quintal bonus, besides the MSP on procurement of wheat. While maintaining that no schemes of the previous government will be closed, the finance minister proposed Rs 18,984 crore for the CM Ladli Behna Yojana.

At a glance

  • 16% up from last Budget

  • Revenue surplus of Rs 1,700 cr

  • 18% increase in state own tax revenue in 2024-25 as compared to budget estimate for 2023-24

  • Estimated increase in capital expenditure by 15% in 2024-25 as compared to budget estimate for 2023-24

  • Rs 40,804 crore (23.4%) for Scheduled Tribe Sub Plan

  • Rs 27,900 Crore (16%) for Scheduled Caste Sub Plan

  • Capital outlay for 2024-25 estimated at 4.25% of the State’s Gross Domestic Product

  • Interest payments for 2024-25 10.40% of the total revenue receipts

  • Fiscal deficit estimated to be 4.11% of the state GSDP

  • Action plan for E-Vidhan, E-Cabinet and E-MLA Office scheme under which each of 230 legislators will get Rs 5 lakh each for ensuring office

  • Establishment of Coding Lab

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