On March 1, 2023, the Finance Minister of Madhya Pradesh (MP) Jadgish Devda presented a green budget of Rs 3,14,025 crore for 2023-24 of MP. This is an increase of 12.5% from FY22’s budget of Rs. 2,79,237 crore. It is expected to have higher revenue growth of 16%.
- There is no provision for any new tax in the budget and stamp duty has also been cut in many categories.
- It was regarded as the ‘Budget of the public’.
Highlights:
i.The budget has a revenue surplus of Rs 412.76 crore and the fiscal deficit is estimated at 4.02% of the Gross State Domestic Product (GSDP).
ii.The estimated revenue receipts are Rs 2,25,709.90 crore, which include state’s own tax amount of Rs 86,499.98 crore, state’s share of central taxes of Rs 80,183.67 crore, non-tax revenue of Rs 14,913.10 crore and grants-in-aid received from the Centre of Rs 44,113.15 crore.
iii.MP’s debt will increase to Rs 3,85,000 crore by March 31, 2024 from current Rs 3,00,000 crore.
- The debt to GSDP ratio would be 27.83% in 2023-24, down from 30.12% in the FY23.
Launch of Mukhkyamantri Ladli Behna Yojna:
A new scheme namely ‘Mukhkyamantri Ladli Behna Yojna’ will be rolled out for the welfare of women in the state on March 5, 2023. For this, a provision of Rs 8,000 crore has been made.
- Under the scheme, women will be given Rs 1,000 assistance per month with certain riders including that they are not Income Tax payee.
Key Points:
i.The budget has a provision of Rs 36,950.16 crore for Scheduled Tribes (Sub-Scheme), Rs 2,60,86.81 crore for Scheduled Castes (sub-scheme), Rs 11,406 crore for the establishment of government primary schools, and Rs 7,332 crore for Jal Jeevan Mission (JJM) under the National Rural Drinking Water Mission.
ii.There is a provision of Rs 6,935 crore for assistance for carrying out reforms required as per the 15th Finance Commission (report), and Rs 6,728 crore for middle schools.
iii.A provision of total appropriation amounting to Rs 3,14,024.84 crore, which is 13% more than FY23, and total net expenditure of Rs 2,81,553.62 crore have been made.
iv.The State Government has also announced to start Mukhyamantri Balika Scooty Yojana for the meritorious girls of the state. Under this scheme, scooties will be gifted to the girls who get the highest marks in class 12th in the State.
v.A provision of Rs 3,230 crore has been made for CM Rise schools and Rs 1000 crore for Mukhyamantri Kaushal Yojana.
vi.Rs 1.02 lakh crore has been kept for women’s empowerment and welfare.
vii.A provision of Rs 28,624 crore for the Public Works Department (PWD) to build roads and bridges was made.
viii.There will be opening of Global Skill Park in Bhopal and skill development centres in Gwalior, Sagar, Jabalpur and Reva.
- Under this, 200 youth will also be sent for training to Japan.
ix.Rs 358 crores were allocated for the expansion of four temples– Devilok in Salkanpur, Ramlok in Orchha, Ravidas Samark in Sagar and Deviya Vanvasi Lok in Chitrakoot in different parts of the state.
x.Rs 50 crore has been announced for ‘Mukhyamantri Teerth Darshan Yojna’ through airways.
Recent Related News:
i.On 16th December 2022, the eve of 75 years of raising of the Infantry School and to commemorate the Vijay Diwas, India’s first & World’s 2nd Infantry Research Centre and Museum was inaugurated in the Mhow cantonment in Indore district, MP.
ii.Union Minister Narendra Singh Tomar inaugurated the first dedicated Greenfield farm machinery plant (non- tractor) of Mahindra & Mahindra Farm Equipment Sector (FES), a part of the Mahindra Group, at Pithampur, MP.
About Madhya Pradesh (MP):
Chief Minister (CM)– Shivraj Singh Chouhan
Governor– Mangubhai C. Patel
Tiger Reserves– Kanha Tiger Reserve, Bandhavgarh Tiger Reserve, Panna Tiger Reserve
