Madhya Pradesh Assembly Passes Rs 4.21 Lakh Crore Budget for 2025-26
The Madhya Pradesh Legislative Assembly passed the state government's Rs 4.21 lakh crore budget for the 2025-26 fiscal year late on Friday night through a voice vote.
Bhopal: The Madhya Pradesh Legislative Assembly passed the state government’s Rs 4.21 lakh crore budget for the 2025-26 fiscal year late on Friday night through a voice vote.
The extensive session, which lasted until 10 pm, culminated in Finance Minister Jagdish Devda presenting the appropriation bill after divisional grant demands were approved collectively. The Assembly subsequently approved the budget by voice vote.
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Key Discussions and Grant Approvals
The session included extensive discussions on grant demands for crucial departments such as Water Resources, Urban Development and Housing, Sports and Youth Welfare, and Agriculture Development. These deliberations led to a late evening adjournment, with the House formally approving the demands for grants by the end of the session.
Budget Details and Economic Highlights
The budget session, which began on March 10, is scheduled to continue until March 24. During this session, the Gross State Domestic Product (GSDP) for the fiscal year 2024-25 was highlighted, with projections indicating a growth rate of 0.6 percent over the previous year. The GSDP is projected to reach Rs 15.22 lakh crore at current prices.
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For the fiscal year 2024-25, key financial figures include:
- Expenditure (excluding debt repayment): Estimated at Rs 3.26 lakh crore, marking an 8.9 percent increase over revised estimates for 2023-24.
- Revenue receipts (excluding borrowings): Projected at Rs 2.63 lakh crore, a 7.6 percent increase compared to the previous year’s estimates.
- Revenue surplus: Expected at Rs 1,700 crore (0.1 percent of GSDP).
- Fiscal deficit: Targeted at 4.1 percent of GSDP (Rs 62,564 crore), up from 3.6 percent in the revised estimates for 2023-24.
Debt Repayment and Fiscal Discipline
The budget also includes a provision for debt repayment, amounting to Rs 29,697 crore. Emphasizing financial discipline, the government has outlined its priorities for maintaining a revenue surplus and effectively managing the fiscal deficit.
As the Madhya Pradesh Budget session wraps up on March 24, the comprehensive financial blueprint for 2025-26 aims to balance developmental priorities with fiscal responsibility, ensuring the state’s long-term financial stability.
